pension or life cover ?

Thanks for the links graham, I'll be lookin over these in the next couple of days, and see what grabs my attension. That is if I can understand what I'm reading.

Anyway, have a good rep.

[SMHarman]

Originally Posted by Graham

The number of years you can backdate has been reduced, but IIRC you can still do it for the previous financial year which means that, if you time it right, you've effectively got two chronological years to do it.

The whole backdating thing is largely an arbitary offer by the Inland Revenue, as the limits for contribution are set fairly high each year.

http://www.inlandrevenue.gov.uk/pensionschemes/ir3.pdf

To start thinking about backdating you need to have controbuted over 17.5% of your salary to a PPP. So someone earning £24,000 / year will need to contribute £4,200 or £350 (before tax) / £238 of takehome, something that most cannot do unless they have an inheretence / windfall to tuck away somewhere safe.