![\"Martin](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/0_Screenshot-2025-03-04-at-212829JPG.jpg\")
Martin Lewis has for higher tax payers, the gain is even greater(Image: ITV)<\/p>\nThe Money Saving Expert called the it a “superpower” as you get tax reliefMartin Lewis has for higher tax payers, the gain is even greater(Image: ITV)<\/p>\n
Martin Lewis has shared a pension ‘loophole’ that could ‘double your money’ during a segment on his ITV<\/a> programme.<\/p>\n During his return to The Martin Lewis Money Show Live for its Summer Special, the 52-year-old turned his attention to the workplace pensions system.<\/p>\n Specifically, he spoke on how your pension contributions aren\u2019t taxed at the point of contribution.<\/p>\n Read more: Nationwide customers told June dates to check bank accounts for \u00a3100 bonus payments<\/a><\/strong><\/p>\n Martin explained: \u201cThe most important thing to remember is the money you put into your pension is from pre-tax salary. So this is the superpower. You get tax relief.<\/p>\n “So as a basic 20% rate taxpayer, you\u2019re putting \u00a3100 in, but of course when you get it in your pay packet 20% is being taken off. So to put \u00a3100 in only costs you \u00a380. So you\u2019re getting \u00a3100 investment for the cost of \u00a380.\u201d<\/p>\n The finance guru said that for higher-rate taxpayers, the gain is even greater because you get a \u00a3100 investment for just \u00a360 because you don\u2019t lose \u00a340 to tax.<\/p>\n For a 45% rate taxpayer, it costs you just \u00a355 to get \u00a3100 invested into your pension tax-free.<\/p>\n Additionally, for every \u00a3100 you put in, your employer will add in matched contributions.<\/p>\n He continued: \u201cSo for a basic rate taxpayer, that means you, if you\u2019re putting in \u00a380, you\u2019re getting \u00a3160, double the money going into your investment, double your money from what\u2019s coming out your pay packet.<\/p>\n \u201cIf you\u2019re a higher rate taxpayer, \u00a360 becomes \u00a3160, if you\u2019re a top rate taxpayer – and some people might say it\u2019s unjust they\u2019re the ones that get the biggest but anyway – \u00a355 is nearly being trebled to \u00a3160 going into your investments.<\/p>\n \u201cThat is just completely unbeatable. So in a way if you were not to do it, you\u2019re giving up a payrise.\u201d<\/p>\n Join our dedicated BirminghamLive WhatsApp community<\/a> for the latest updates sent straight to your phone as they happen.<\/p>\n You can also sign up to our Money Saving Newsletter<\/a> which is sent out daily via email with all the updates you need to know on the cost of living, including DWP<\/a> and HMRC changes, benefits, payments, banks, bills and shopping discounts.<\/p>\n Get the top stories in your inbox to browse through at a time that suits you.<\/p>\n","protected":false},"excerpt":{"rendered":"The Money Saving Expert called the it a “superpower” as you get tax reliefMartin Lewis has for higher…\n","protected":false},"author":2,"featured_media":152738,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,1059,2499,16,15],"class_list":{"0":"post-152737","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-martin-lewis","11":"tag-personal-finance","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114615158636277722","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/152737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=152737"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/152737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/152738"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=152737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=152737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=152737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}