ill health retired

jonnyp1

I am 52 and just been given medical retirement. The pension plus my investment income takes me over the 100k so losing personal allowance. Can I invest in new pension even though being paid a pension from my old companies. What is the maximum I can put in? any other ideas to avoid losing allowance?
thanks jon

kidmugsy

If you have no annual earnings you can contribute up to £3600 gross => a cheque for £2880 net. You claim back a tax rebate via your self assessment form.

Also look at VCTs and EISs: high risk, but you can compensate elsewhere in your portfolio.

Farmer-Giles

Cheers for posting this and hope your retirement gives some comfort / stability regarding illness.
Will you be subject to reviews from the pension provider?
I'm at the discussion stage with my employer regarding similar medical partial incapacity circumstances at mid 40s for an incurable but not terminal illness.
Depending on how the figures work out, I'm tempted to take no more than a tax free lump sum if i'm offered it, but open to all ideas for making the best of things regarding income versus life expectancy.