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  • FIRST POST
    • lagiffgaff
    • By lagiffgaff 16th Jul 17, 6:48 PM
    • 1Posts
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    lagiffgaff
    Bonus sacrifice
    • #1
    • 16th Jul 17, 6:48 PM
    Bonus sacrifice 16th Jul 17 at 6:48 PM
    Hi,

    I am 30 years old and just got my first bonus after starting to work two years ago. Shall I sacrifice it towards my pension (Aviva) and save close to £500 in tax or cash it in? I should also mention I am not british, meaning I will eventually go back to Europe in a couple of years. I would appreciate some pointers please.

    Thank you!

    Lucie
Page 1
    • atush
    • By atush 16th Jul 17, 9:38 PM
    • 16,385 Posts
    • 10,139 Thanks
    atush
    • #2
    • 16th Jul 17, 9:38 PM
    • #2
    • 16th Jul 17, 9:38 PM
    Well first off- is it a sacrifice (ie salary sacrifice)?

    What rate of tax do you pay?

    Do you have other savings which means you dont need this pension until age 55 or later?

    If you have enough savings, that you can set up your new life back in europe (home country or not) then put it in the pension.

    If you feel you might need this money sooner in your new/old life back where you came from, then take the money and save it in a non pension wrapper/
    Last edited by atush; 16-07-2017 at 9:42 PM.
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