Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Nick9967
    • By Nick9967 10th Oct 17, 3:20 PM
    • 9Posts
    • 1Thanks
    Nick9967
    Tax relief on my pension statement
    • #1
    • 10th Oct 17, 3:20 PM
    Tax relief on my pension statement 10th Oct 17 at 3:20 PM
    Need some help from you guys in the know, I'm not sure if I'm being thick or not.
    I have a pension through work for which I pay in 6% of my salary per month and my employer matches this .
    Nominal Salary is £62,500 p.a. my contribution p.a. £3,750 and employer same.
    So I've just received my pension statement , its clear that what's been paid in over 12 months is simply (312.50 + 312.50) * 12 = £7,500 p.a.


    shouldn't I see some tax relief going in there somewhere at some point? from all I've read it seems so but can't be sure - to note I'm on a salary sacrifice scheme . In the back of my mind I'm thinking that possibly the sacrifice scheme is allowing me to pay less tax and NI now on my monthly salalry rather than it go into my pension pot physically.


    confused as hell!!
Page 1
    • BoGoF
    • By BoGoF 10th Oct 17, 3:28 PM
    • 2,723 Posts
    • 1,961 Thanks
    BoGoF
    • #2
    • 10th Oct 17, 3:28 PM
    • #2
    • 10th Oct 17, 3:28 PM
    If you are paying through salary sacrifice then you are receiving tax relief through your salary so only the actual payments should be on your statement
    • xylophone
    • By xylophone 10th Oct 17, 3:32 PM
    • 23,646 Posts
    • 13,777 Thanks
    xylophone
    • #3
    • 10th Oct 17, 3:32 PM
    • #3
    • 10th Oct 17, 3:32 PM
    See https://www.aegon.co.uk/support/faq/Understanding-our-products/retirement-products/workplace-pensions/what-is-salary-sacrifice.html
    • Nick9967
    • By Nick9967 10th Oct 17, 4:02 PM
    • 9 Posts
    • 1 Thanks
    Nick9967
    • #4
    • 10th Oct 17, 4:02 PM
    • #4
    • 10th Oct 17, 4:02 PM
    answered thanks
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

5,130Posts Today

6,683Users online

Martin's Twitter