We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Understanding tax relief on pension contributions
Comments
-
ForestBluebells, the DWP had done the review of qualifying earnings band a few days ago and that the lower limit qualifying earnings band will increase from £6,136 to £6.240 while keeping the upper limit same at £50,000. One thing I have noted while reading the review that the government's ambition is to get rid of the lower earnings limit in the mid-2020s, so fingers crossed.
1 -
Ah so short term I’ll pay less contributions but hopefully soon it will be abolished and pay full contributions0
-
Is increasing your contribution from 5% to 6 or 7% an option?
Appreciate this doesn't change the issue with qualifying earnings but it would get the higher amount you were hoping for into your pension.0 -
I opened a LISA and I’m paying into that now instead of increasing workplace pension contributions1
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards