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Paying lump sum into pension
alano1962
Posts: 1 Newbie
I have a private pension with my employer and I also have £20,000 savings not earning much interest.
My question is would i benefit from paying this money into my pension as a lump sum.
My question is would i benefit from paying this money into my pension as a lump sum.
0
Comments
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If that is all your savings, your “emergency fund” and you are of an age where you can’t access your pension for some time - I wouldn’t tie it up.
I’d also think about your earnings and tax relief. If you earn just over the 40% tax band, then you’d get more tax relief my drip feeding it in across tax years.
More info needed, really!0
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