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recycle
patsy43
Posts: 84 Forumite
I don’t earn enough to pay tax so can I recycle my pension money to get tax relive I tuck my tax free cash in 2018 which payed of my mortgage the pension I get is less than 12500 pound allowance my wife has not retired and still gets a good wage that we live on I am 63 so won’t get state pension till I am 66 I what to live the drawdown pension to my family when I pass away so if I payed in more to get tax relief am I braking the recycle laws
0
Comments
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Depends on the type of pension you have. Is it a Defined Benefit or a Defined Contribution with annuity or do you use drawdown? Are you earning any wages from working at all?0
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i have a sip i am in drawdown so can only put in 4000 a year0
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no wages only pension and rent from a property about 8500 a year0
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If no wages and in drawdown then maximum is £3600 - you pay in £2880 and your pension provider adds the rest.0
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under stand but as i am paying back in my pension money am i braking recylin laws0
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