Pension Contribution

[Nat2321302]

Dear all,

I have a Limited company owned 100% by me.

I want to ask, do I need to have a company work place pension scheme to contribute £60,000 into a pension fund from your company? My understanding is 5% employer and 3% company . is that means I can contribute 3% from my Gross salary and the company contribute £5000 per month (£5,000 x 12) . is this correct

Or the company can contribute to a pension scheme £5,000 per month without me ruining a work place pension scheme?

Your advice please

[Nat2321302]

Sorry 5% employee and 3% employer

[3point14]

Your company can pay gross into your SIPP irrespective of any company scheme but you might consider a small self-administered pension scheme (SSAS) because you could then be in control over what your pension could invest in.

For example, if I put my money into a SIPP, I might find that the SIPP I have chosen does not allow me to borrow money for commercial property purchases.

On the other side, SIPP costs are very low now and near free and any small self-administered pension scheme (SSAS) would come with set up costs and likely much more regulation and administration fees.

I am in my 50s, so I consider a SSAS as something I perhaps should have done but that boat has sailed. I use a SIPP (Invest Engine - waiting for Trading 212) and I use cheap ETFs whilst borrowing for property through Ltds.