Annual Allowance & Deferred Defined Benefit Pension Increases

kangoora

I'm looking to max out my annual allowance this year through salary sacrifice but I have 2 deferred final salary pensions. One in the PPF and one military, neither are huge, one forecasted about £8k/year and the other one forecasted about £4.5k/year at 60 years old when I can draw them.

I have got spare annual allowance from each of the previous 3 years, circa £25k remainder for each year based on my previous contributions and I was a member of a recognised scheme.

Can I contribute to the maximum annual allowance this year and assume any increase in the DB pensions value will be covered off by the bringing forward of previous annual allowances. I very much doubt the increases will come even close to the £25k each year.

Do I need to inform HMRC this is what I am planning on doing or would the carrying forward be automatically accounted for?

PS I won't be able to go more than the maximum annual allowance from salary, this will put me at the limit of what cash is available that I can put in annually anyway.

AlwaysLearnin

Your pension input amount might be nil for deferred DB pensions:

http://www.hmrc.gov.uk/manuals/rpsmmanual/RPSM06107210.htm

kangoora

AlwaysLearnin wrote: »

Your pension input amount might be nil for deferred DB pensions:

http://www.hmrc.gov.uk/manuals/rpsmmanual/RPSM06107210.htm

Thanks, had a read of that and it does look to apply to me.