wtc and pension payments

Hi i have been following threads for a while but this is my first post, so here goes, feel free to move if its in the wrong place
I am self employed and my husband works but on a low wage we have two disabled children that we recieve DLA for (and extra tc) within this tax year we upped his works pension and recieved more tax credits now i am thinking i should start a pension as i don't have one and wondered if we would get more tax credits if i did but dont know where to start, but think i ought to do something before april. we are both in our thirties
any thoughts welcome as you all seem far more up on these things than me!
Owner of a cute cottage in the North York Moors :j

Replies

  • Savvy_SueSavvy_Sue Forumite
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    I don't know if there's anything on the pensions board about this kind of thing? That would certainly be the place to look for the answer to the question of "how does someone who isn't working set up a pension?" (and I think the answer is a Stakeholder pension, but don't quote me on that!)
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  • thanks i have posted a simular post on there and a response within an hour!
    Owner of a cute cottage in the North York Moors :j
  • the reason why you get more tax credits is that any contributions you pay to a private pension can be deducted from yearly income.
    fatblokexl
    :EasterBun:
  • exilexil Forumite
    1.2K Posts
    Savvy_Sue wrote:
    I don't know if there's anything on the pensions board about this kind of thing? That would certainly be the place to look for the answer to the question of "how does someone who isn't working set up a pension?" (and I think the answer is a Stakeholder pension, but don't quote me on that!)

    Well, anyone not working can put up to 3600 gross into a pension scheme, an Stakeholder pensions are designed with this in mind. The flaw in the reasoning is that most people not working don't have the odd 1000 down the back of the sofa.
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