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DB & SP recycling?
Yorkifossil
Posts: 15 Forumite
I'm 67, am in receipt of a DB company pension and state pension; I'm wondering whether I can pay the equivalent of these two incomes combined into a new SIPP, or are there other constraints?
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Comments
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What pensionable earnings (wages, business profits) do you have in the current tax year?1
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The constraint is that you need 'earnings', and pensions don't count for that purpose. You can pay in up to £2,880 (and get tax added to your 'pot' at basic rate - the provider claims it on your behalf) even if you don't have any earned income.Yorkifossil said:I'm 67, am in receipt of a DB company pension and state pension; I'm wondering whether I can pay the equivalent of these two incomes combined into a new SIPP, or are there other constraints?2 -
Thanks, guys - I see it applies to 'earned' income only, except for the £2880 opportunity. Glad I asked, it helps cure my ignorance....0
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