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Contributions when over 75.
Theta101
Posts: 140 Forumite
Hi
Would I be able to make pension contributions when I'm over 75?
Assume I will be drawing down on a pension and taking state pension.
I would expect to be paying basic rate tax on my income, all coming from pensions.
I can't see what's special about the over 75's?
Thanks.
Would I be able to make pension contributions when I'm over 75?
Assume I will be drawing down on a pension and taking state pension.
I would expect to be paying basic rate tax on my income, all coming from pensions.
I can't see what's special about the over 75's?
Thanks.
0
Comments
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Would I be able to make pension contributions when I'm over 75?
NoI can't see what's special about the over 75's?
Nothing. However, the Govt gives tax relief, tax free growth and advantageous estate planning to under 75s as the point of a pension is to save towards retirement. At 75, you are almost certainly well and truly retired. So, no tax incentives needed.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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