I run my own limited company, how does pension saving work?

If you run a limited company, you become your own employer. You are therefore required to take responsibility for your pension savings. For pension savings in your own limited company, you are advised to make use of all three elements of the pension: general pension, occupational pension and your own savings.

The general pension is based on the tax you pay. To get a good state pension, you therefore need to earn a market wage.

Occupational pension usually represents the second largest part of the final pension. In order to take advantage of the occupational pension, you must take out a pension contract yourself if you run a limited company.

The own savings function as a significant complement to the above two points, which is also important for those who run a limited company.