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Private Pension or Workplace via Salary Sacrifice?
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1) refers to nation minmum wage.
Your employer has to pay you minimum way by law, so if doing salary sacrifice you must receive this.
As your a high earner might not be an issue in your case.
If for example someone earned £40K per annum, they cannot salary sacrifce £40K as they have to received minimum wage, so their contribution limit would be more like £27.5K.
I don't think this will apply as basic is £80k.0 -
Jaguar_Skills wrote: »Thanks is there a way of easily working out if I was going to go over the £40k AA?
I am still not 100% sure of what the downside to doing this is, is it just that you lose tax relief?
I can log in to my company pension account and see all the contributions. Otherwise I think you have to just do the calculations.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0
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