pension or debt clearance?

Edwardia

Back when we were poorer, OH felt he couldn't afford a pension. We missed out getting housing benefit because he earned £10pw too much. If he'd had a pension we would have got it. Another reason to have a pension is that it's deducted from gross salary before anything else and can therefore reduce amount of tax and NI paid. Plus if your OH's employer contributes that helps swell the pot. If your OH has dribs and drabs of personal pensions you can sometimes get it transferred to new pension (it's possible in NHS within first year of employment).

Oneday77

Edwardia wrote: »

Back when we were poorer, OH felt he couldn't afford a pension. We missed out getting housing benefit because he earned £10pw too much. If he'd had a pension we would have got it. Another reason to have a pension is that it's deducted from gross salary before anything else and can therefore reduce amount of tax and NI paid. Plus if your OH's employer contributes that helps swell the pot. If your OH has dribs and drabs of personal pensions you can sometimes get it transferred to new pension (it's possible in NHS within first year of employment).

It can go both ways. Paying a pension and child care vouchers from a salary can also prevent some people from getting benefits as it can take them below the thresholds. Doubt that would be the case here though.