SIPP personal contribution by partner

billy2shots

A very quick question if I may.

ISAs maxed this year and fully expect to do the same next.

My wife has approximately £10k of available contribution left for her SIPP. 

Taxable pay minus LGPS contribution minus money we have already payed in.

Very stupid question but will she still get the government top up if the £10k personal contribution comes from my bank or should it come from her account. 

I'm fairly happy with my knowledge of ISAs, Pensions and GIAs but this was one of those wake up at 3am moments unsure of things. 

xylophone

https://techzone.abrdn.com/public/pensions/3rd-party-pension-conts

Where a third party pension contribution is made to a registered pension scheme, it's treated as if the scheme member had made the contribution. So it’s the member who gets the tax relief, not the contributor.

Is the provider content to accept the payment from your account?

If not, the answer is simple. Transfer the money to your wife's account so that she can make the payment.

Albermarle

If not, the answer is simple. Transfer the money to your wife's account so that she can make the payment.

With some providers having a cut off date of 1st April , I would not risk any delay and do what Xylophone says above .

dunstonh

Very stupid question but will she still get the government top up if the £10k personal contribution comes from my bank or should it come from her account. 

Its an anti money laundering issue.  If it comes from your account then its a third party payment.  If it comes from your wife's account or a joint account then it's a personal contribution.   A small number of providers will accept payments from spouse and not treat it as a third party payment.

Better not to risk it and just do a bank transfer to your wife and pay from her account.

billy2shots

Thanks for the input. It's obviously not clear and provider dependent. 

I will transfer the money and pay from my wife's account just to make sure.