Wife's pension

redmalc

My wife is 58 with no pension provision and a non tax payer,our circumstances have recently changed so looking to put the max in for this year,how many years can we back date the payments

kidmugsy

You can't backdate payments into a pension, unless you mean the State Retirement Pension.

xylophone

Is your wife earning even though not paying tax?



Your wife may invest up to the total of her earnings (before deduction of personal allowance) into a pension scheme but will pay this net of basic rate tax. Suppose her earnings were £6K, she could make pension contributions of up to £6K gross (£4,800 net) and HMT will add £1,200 to her pension pot and she will pay no tax.

Your wife could make a net contribution of £2,880 and HMT will add £720, whether or not she has any earnings.

http://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/

sleepless_saver

She could start by getting a state pension statement to see what she might be entitled to at the moment. It is possible to pay for additional NI contributions towards the state pension. This would be in addition to any work pension or other pension that she decides to start.

redmalc

My wife does not get an income,finished work two years ago and does not claim any type of benefits

xylophone

Then she can pay up to £2880 into a pension each tax year and receive tax relief of £720. See above.

Or you might consider a SIPP for her.

Re new state pension

https://www.gov.uk/new-state-pension/overview