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Pensions Planning: The NUMBER
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Presumably also you have discussed it, but in case not, your current plans involve your wife retiring at 63 (Presumably so you retire together), which means she is losing more of her health before retiring. If she isn't already, then considering her retiring earlier, or going part time would seem reasonable.
If you will have 5k net in pension income, mostly from your pension, presumably you will be paying 40% tax on that? So not much point saving 40% tax to pay 40% tax, when your wife could be saving 20% tax by paying into a pension and taking less than the first tax threshold so paying 0 tax on withdrawal?
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