secondary pension strategy

fizio

Having got a good handle on my pension strategy i thought i'd take a look at my OH and see if there are any tax advantages to shifting some investments her way.
So she was fulltime teacher for 10 years and then supply for next 10 years. She has pretty much stopped teaching now and is a 'lady of leisure'. She has some teachers pension but it looks like that only covered her when fulltime and she hasn't had any pension investments since being a supply. I will have to see if i can somehow supplement her existing teachers pension in terms of buying extra years etc.
I was then thinking i should get her a sipp and at least stick in the maximum 2800 for her to get the extra govt £800. I already have her maxed on S&S ISA etc

Any advice on what I can do as she still has 10 years to retirement (60) so I am looking at tax efficient ways to ensure that i take advantage of any tax savings i can plus it would be good to get her an income on £10k to keep below tax allowance etc

MFW_ASAP

If you are a higher rate taxpayer, then it would be better to put the extra money into your pension and receive a higher tax rebate. Otherwise, putting the money in your OH's pension is a good idea, especially as you have maxed out her ISAs.

fizio

MFW_ASAP wrote: »

If you are a higher rate taxpayer, then it would be better to put the extra money into your pension and receive a higher tax rebate. Otherwise, putting the money in your OH's pension is a good idea, especially as you have maxed out her ISAs.

Yes I am higher rate but am already sticking in the max allowed via salary sacrifice so looking to see what else after ISA's..

Thanks,

MFW_ASAP

haf63 wrote: »

Yes I am higher rate but am already sticking in the max allowed via salary sacrifice so looking to see what else after ISA's..

Thanks,

Is that the max allowed in your company pension plan? Ifso, you could open a personal pension and contribute extra into that and still qualify for the full 40% tax rebate.

fizio

MFW_ASAP wrote: »

Is that the max allowed in your company pension plan? Ifso, you could open a personal pension and contribute extra into that and still qualify for the full 40% tax rebate.

I mean the max allowed by govt i.e £50k