Paying into a Pension whilst BR

lifebeginsagain

Can I confirm with you guys whether you can or can't pay into a company pension (deducted at source) whilst being an undischarged BR.

Round_The_Bend

Yes, you can. I'm currently paying into a NHS pension, which the OR has allowed. You can also pay into a stocks and shares ISA, although I would probably only do this if you have 'official' surplus income.

lifebeginsagain

That's really interesting, thank you.

I didn't think you were so that's great to hear. We have stopped paying it at the moment due to lack of funds but are expecting salary to go up enough to start paying again in the next year.

We are just concerned that the OR will want us to pay that money into an IPA and not allow us to use the extra funds for the pension.

skylight

As long as its a reasonable amount the OR will allow it on your SOA. So if you were to put all what you thought would be your surplus (£200 pm for eg), they can simply refuse to allow it as an expense on your SOA.

The OR cannot refuse to allow you to pay into a pension, but they can refuse to include the amount on your SOA; there is a difference.

JCS1

Pension payments should be allowed, but AVC's are not classed as allowable expense.

lifebeginsagain

Thank you for the replies:D

What is an AVC?:o

JCS1

Sorry, used to do payroll so I speak payroll abbreviations! Additional Voluntary Contributions, extra pension contributions deducted direct from salary.