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How are you earning at the moment? If you're through a limited, pension contributions have the additional benefit of reducing corporation tax and NI contributions.
PAYE. I have done the contracting dance.
Other than that, it's all about what realistic but unknown returns you can make on a pension fund (less costs), versus how much you can reduce a (known-ish) mortgage, and your relative risk appetite.
I'd imagined the tax free nature of pension contributions as part of salary sacrifice and the 25% tax free nature of pension withdrawal somewhat negates the 'will it return more than mortgage debt will cost you' equation. Perhaps I'm wrong, I haven't done the math, just an assumption.
Any reason why you can't do both to some extent?
No, but I don't have a whole lot left over at the end of the month, so it would be spread thinly.
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Howard
How are you earning at the moment? If you're through a limited, pension contributions have the additional benefit of reducing corporation tax and NI contributions.
Other than that, it's all about what realistic but unknown returns you can make on a pension fund (less costs), versus how much you can reduce a (known-ish) mortgage, and your relative risk appetite.
Any reason why you can't do both to some extent?