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Two pensions?
tim_n
Posts: 1,607 Forumite
I have a pension from my employer to which I throw in 4% and they top it up to 11% of my wages.
Similarly I also have a stakeholder pension paying in £50ish a month (which isn't a lot I know)
I'm 26 (27 mid year). Am I allowed to have two pensions like this? I assume I can because I've listed it on my tax return as a pension & no-one has yet complained...
Similarly I also have a stakeholder pension paying in £50ish a month (which isn't a lot I know)
I'm 26 (27 mid year). Am I allowed to have two pensions like this? I assume I can because I've listed it on my tax return as a pension & no-one has yet complained...
Tim
0
Comments
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You can have as many as you like.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I have a similar arrangement - final salary/career average pension + AVC's and also a stakeholder which I contribute to every month.
I set up the stakeholder a few years ago when the limit for occupational pensions was 15% of earnings,and you could also put in £3,600(gross) into a stakeholder and have just continued with it.
I see it as a bit of diversification and is also a lot more portable than my works scheme if I happen to change jobs in the future.FIRE !!!0
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