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NHS AVC - cannot see tax relief
Bigbobby
Posts: 65 Forumite
I currently work for the NHS and as well as the main NHS pension I am also paying AVCs into Prudential direct from my wages. I am a basic rate tax payer. We I log into my Prudential online account I can see my monthly contributions going in but not tax relief. I have been paying in for just over 2 years and only just noticed. Is there any reason for this?
0
Comments
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Presumably because they are coming out of your wages before tax is taken.1
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Cheers, that's why! Just done a quick calculation and you are right. Makes sense now!1
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That is the "net pay" method of contributing i.e. salary £35,000 and 10% pension contribution which means your P60 will show your pay as £31,500 not £35,000.
"Relief at source" is where the pension company adds the basic rate relief i.e. you contribute £100 and they add £25 giving you a fund of £125.1
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