Added years

MABLE

I have been for a while now paying an extra £100.00 a month to buy additional years in my Companys final pension scheme. However can anyone advise me that by doing this would I normally just get tax relief or would I receive a contribution from the employer. I already pay 6 percent in and my employer pays 11 percent but not sure ihow it works when you agree to buy additional years.

Any help appreciated.

ReportInvestor

Yes you do get tax relief (at your top rate of tax ) when you buy added years.

The value of your contributions vis-a-vis your future pension varies from company/scheme to company/scheme - and also depends on your tax rate.

It's worth discussing this with your Human Resource people/bursar/union or whoever reports back to employees about the pension scheme where you work.

There must be a booklet available to get you asking the right questions of them.

jonathon_hart

I would have thought this is being deducted from your pay prior to any tax being deducted.

Thanks

Jonathon