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  • FIRST POST
    • datlex
    • By datlex 9th Oct 16, 1:38 PM
    • 1,057Posts
    • 911Thanks
    datlex
    Savings to pensions
    • #1
    • 9th Oct 16, 1:38 PM
    Savings to pensions 9th Oct 16 at 1:38 PM
    This is a hypothetical question: Can you add from a savings account to a pension fund (assuming it does not take you over the contributions limit)? For example interest earned on savings that take you over £6000.
Page 1
    • Linton
    • By Linton 9th Oct 16, 1:53 PM
    • 6,935 Posts
    • 6,525 Thanks
    Linton
    • #2
    • 9th Oct 16, 1:53 PM
    • #2
    • 9th Oct 16, 1:53 PM
    Yes - it doesnt matter where the money comes from.
    • zagfles
    • By zagfles 9th Oct 16, 5:53 PM
    • 11,107 Posts
    • 9,123 Thanks
    zagfles
    • #3
    • 9th Oct 16, 5:53 PM
    • #3
    • 9th Oct 16, 5:53 PM
    As long as you're aware of both contribution limits, ie the annual allowance (£40k); and the 100% of "relevant earnings"/£3600 limit.
  • jamesd
    • #4
    • 10th Oct 16, 1:09 AM
    • #4
    • 10th Oct 16, 1:09 AM
    You'll also need to be aware of the tax free lump sum recycling limits if you're using savings with the intent of replenishing the savings from a pension tax free lump sum.
    • datlex
    • By datlex 10th Oct 16, 11:00 PM
    • 1,057 Posts
    • 911 Thanks
    datlex
    • #5
    • 10th Oct 16, 11:00 PM
    • #5
    • 10th Oct 16, 11:00 PM
    As long as you're aware of both contribution limits, ie the annual allowance (£40k); and the 100% of "relevant earnings"/£3600 limit.
    Originally posted by zagfles
    I will be taking contribution limits into consideration. Obviously as well changes to these should they arise.
    You'll also need to be aware of the tax free lump sum recycling limits if you're using savings with the intent of replenishing the savings from a pension tax free lump sum.
    Originally posted by jamesd
    I have no intention of doing that. Intention is to build up the £6000 and then moving the interest to my pension.

    Thanks to all who responded, great way of checking things out.
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