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Max pension contributions (quick check)
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Ciprico
Posts: 643 Forumite


I am trying to tweak salary sacrifice for max efficiency, I wonder if one of the experts could check my figures
Minimum national salary simply worked out as : £8.72 * 37hours * 52 weeks = £16777 per year (assuming 37 hr week, adult etc)
Maximum pension contribution £40k. I am assuming this includings "everything" - existing salary sac, any spurious after tax contributions, and the mimimum legal contributions my employer makes on my behalf to the company scheme.....
Minimum national salary simply worked out as : £8.72 * 37hours * 52 weeks = £16777 per year (assuming 37 hr week, adult etc)
Maximum pension contribution £40k. I am assuming this includings "everything" - existing salary sac, any spurious after tax contributions, and the mimimum legal contributions my employer makes on my behalf to the company scheme.....
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Comments
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Minimum wage looks ok, ultimately it is down to your employer to ensure they are paying at least minimum wage so they should also be checking the amounts if all coming from your company scheme. £40k is all contributions but you also have carry forward available for the previous three years where you contributed less than the maximum and obviously limited to by salary in total.1
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