The small self‐administered pension scheme Available to Purchase

ANY astute businessman appreciates the taxation advantages of pension schemes: within limits, money paid into them by members and companies are deductible before assessment to tax; income and capital gains from scheme investments are tax‐free; tax free lump sums may be paid out on a member's retirement or ealier death—up to one and a half times and four times remuneration respectively; at retirement members can have a pension of up to 50% of remuneration in addition to the retirement lump sum, with pensions at a slightly lower level for surviving spouses and dependants; all these pensions—which can be inflation proofed — are taxed as earned income.