Pension Catch-Up & Clean-Up: Annual Allowance, Carry Forward, and Why Tax Relief Beats Tax on Withdrawal

If you’ve ever wondered how much you can really put into your pension, what happens when you take the money out, or whether tax relief is actually worth it, this episode connects the dots.

We’ll break down the annual allowance, the carry-forward rule, and how to find and tidy up old pensions from past jobs — plus why the tax relief you get now often outweighs the tax you’ll pay later.

You’ll also learn about:

• How the annual allowance and carry-forward rule help you catch up on missed contributions
• What counts as relevant earnings for pension purposes
• How to find old workplace pensions and decide whether to consolidate (Pension Tracking Service)
• What the Pension Schemes Bill could change for savers in the next few years
• And how tax works when you start withdrawing your pension — including why it’s still a smart deal overall

By the end, you’ll see how small, consistent steps — and a bit of understanding — can make your pension one of the most powerful tools you have for building future freedom.

🎧 Listen now to understand the real numbers behind tax relief, withdrawals, and why it’s never too late to take control of your pensions.

💡 I use InvestEngine for my SIPP and Trading 212 for my Stocks & Shares ISA — both are simple, low-cost platforms that I genuinely use myself.
If you’d like to try them:

• InvestEngine: https://investengine.com/referral/u/jyuqxm/ (referral link — new users can get up to £200 bonus)
• Trading 212: https://www.trading212.com/invite/16ZXVTT6Dm (referral link — get up to £100 of free-share)

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💚 Support the podcast: buymeamatcha (https://buymeacoffee.com/iamnaho) or DM on Instagram

💡 I use InvestEngine for my own SIPP — If you’d like to try it, here’s my referral link: https://investengine.com/referral/u/jyuqxm/ (affiliate link — new users can get up to £200 as a bonus)

I use Trading212 for my Stock & Shares ISA https://www.trading212.com/invite/16ZXVTT6Dm (affiliate link - receive free shares up to £100)

Disclaimer: This podcast is for information only and not financial advice. Please do your own research or speak to a licensed financial advisor.

Discover why pensions might just be the best-kept secret in personal finance — how tax relief, compound growth, and a few smart moves can quietly build your future, even if you’ve started late.

In this episode, we pull back the curtain on one of money’s quietest superpowers — your pension. It’s not just a savings pot for later life; it’s a built-in growth engine and a secret tax advantage hiding in plain sight.

If you’ve ever wondered how your pension actually grows or why it deserves more attention than your ISA or savings account, this episode is for you. We’ll explore:

• What’s inside your pension — shares, bonds, and funds — and how they work together
• Why investing beats keeping cash in the bank over the long term
• How tax relief quietly boosts every contribution
• A simple way to use pensions to stay below the higher-rate tax band
• Why it’s never too late — even ten or fifteen years can make a real difference

By the end, you’ll see why pensions aren’t boring at all — they’re the best-kept secret to building future freedom while saving tax today.

Send us a text

Support the show

👉 Follow the show so you don’t miss what’s coming next.

📲 Say hi or share your thoughts on Instagram: @AmITooLatePodcast

📊 Know Your Numbers worksheet https://subscribepage.io/knowingyournumbers

📣 Know someone who needs this? Don’t wait — share the episode and give them the nudge they didn’t know they needed.

💚 Support the podcast: buymeamatcha (https://buymeacoffee.com/iamnaho) or DM on Instagram

💡 I use InvestEngine for my own SIPP — If you’d like to try it, here’s my referral link: https://investengine.com/referral/u/jyuqxm/ (affiliate link — new users can get up to £200 as a bonus)

I use Trading212 for my Stock & Shares ISA https://www.trading212.com/invite/16ZXVTT6Dm (affiliate link - receive free shares up to £100)

Disclaimer: This podcast is for information only and not financial advice. Please do your own research or speak to a licensed financial advisor.

In this episode, we go back to basics and demystify pensions — what they are, how they work, and why they matter more than most of us realise.

If you’ve ever thought pensions were just something for “later”, or felt unsure about how yours actually grows, this episode will help you make sense of it all. We’ll cover:

• What a pension really is (and how it’s different from regular saving)
• How your money is invested through shares, funds, or bonds — and why that matters
• The three main types of pensions: State, Workplace, and Personal
• How contributions, employer top-ups, and tax relief boost your pension over time
• Why investing feels intimidating — and why you’re already doing it through your pension
• A simple first step to start understanding what you already have

By the end, you’ll see pensions not as something distant or complicated, but as one of the most powerful tools for your future — one that’s already quietly working for you.

State Pension Forecast: https://www.gov.uk/check-state-pension

Send us a text

Support the show

👉 Follow the show so you don’t miss what’s coming next.

📲 Say hi or share your thoughts on Instagram: @AmITooLatePodcast

📊 Know Your Numbers worksheet https://subscribepage.io/knowingyournumbers

📣 Know someone who needs this? Don’t wait — share the episode and give them the nudge they didn’t know they needed.

💚 Support the podcast: buymeamatcha (https://buymeacoffee.com/iamnaho) or DM on Instagram

💡 I use InvestEngine for my own SIPP — If you’d like to try it, here’s my referral link: https://investengine.com/referral/u/jyuqxm/ (affiliate link — new users can get up to £200 as a bonus)

I use Trading212 for my Stock & Shares ISA https://www.trading212.com/invite/16ZXVTT6Dm (affiliate link - receive free shares up to £100)

Disclaimer: This podcast is for information only and not financial advice. Please do your own research or speak to a licensed financial advisor.