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Cash now or in the pension pot?
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One other issue that you need to think about is higher rate tax relief on pension contributions. Many commentators believe there is a high chance of this being taken away in the near future. If you think this is likely then that is a further incentive to get the higher contributions in now rather than later.
That's the only reason I'm going hell for leather into pension at present. I'm £2k gross per month + £10K bonus pa just going in to pension.
I have no cash savings to speak of, working these up very slowly at £600 per month compared to pension, but do have drawback facility on mortgage which is paid up should I need emergency cash.
I'll look to readjust following May when no doubt things will be different.....0
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