CASHING OUT

The value of AirFunders is to give members a usable fund to add to their retirement savings.

 

It may also be possible to pass the benefits on to another nominated individual. 

Funds can be transferred directly into a personal pension at any time of your choosing following UK pension rules.

 

An individual aged under 75 is entitled to tax relief on the contributions they make to a registered pension scheme during a tax year.  Individuals can only claim personal tax relief on their contributions up to the higher of 100% of their relevant UK earnings or £3,600.   Where the individual has relevant UK earnings, their net contribution is grossed up (i.e. a net personal contribution of £800 will be grossed up to £1,000 in their pension)

 

If the individual is a higher rate taxpayer, they can claim additional relief through their self-assessment tax return. Such relief is achieved by increasing their basic rate limit for the year by the gross amount of the contribution. 

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We try to do business the right way at AirFunders by creating an easy way to save.

  

When you cash out (at 65+)  you can also choose to gift your entitlement to charity or to pass the benefits on to a friend or relative. What a nice present that would be.

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