Pension fund and transfer plan values. What's the difference?

dunstonh

dleafy said:

I’m PAYE. Earning £30,000, So would I pay 20%?

You would pay 20% on the remaining 20% band the 40% on anything over. If you get to £100k then it goes up again quickly in multiple stages.
You would also be unable to pay more than £4000 a year into a pension (including employer contribution).  that could severely hamper your financial planning.

green_man

dleafy said:

If, when cashing in, I get the transfer value (less tax|)....I'm happy with that

You get the transfer value at the time you cash in, which can go up and down. The fund value will typically not go down in a with profits plan.