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Paying into a pension at 62
Pikeman1
Posts: 79 Forumite
I'm a basic rate tax payer. Have savings and spare money at the end of the month. Already have s&s isas and a small income off a flat I rent out. Get my state pension in just under 4 years time. Is it worth paying into a sipp this late on.
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Comments
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Is it worth paying into a sipp this late on.
If its worth paying into an S&S ISA then its worth paying into a pension.
A pension is just a tax wrapper in the same way an S&S ISA is. The only difference is the maturity process and the tax advantages.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 -
Will you be a taxpayer in retirement?0
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Most likely if I'm ok health wise I'll carry on working. If only a few days a week I'm self employed and don't mind my job at all. Thanks for the replies0
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Have you checked you are on-track to get the maximum state pension? If not, purchasing missing post-2016 years could be useful.0
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Think I'm 3 years short but will be paying ni contributions next few years so yes should have full state pension0
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