How much can i invest in my pension pot

Scallypud

I have recently retired and have no intention of working again. 
My question to the forum is how much can i invest into my SIPP pension to take full use of the 25% tax free contribution.
I made around 14k before retiring. I have invested 10k so far this tax year.
It is my understanding that i can only invest 14k this tax year but does this include the 25% tax free contribution, or can i invest another 4k?
Also how much can i invest next tax year before taking my pension?
Thanks in advance for your help.

Stubod

 https://www.onlinemoneyadvisor.co.uk/pensions/sipps/sipp-contributions/

Based on the current SIPP annual allowance you can contribute a maximum of 100% of your income OR up to £40,000 (the gross figure), whichever is lowest. For example, if you earn £30,000, your allowance would be £30,000, capped by your income. If you earn £60,000, it would be £40,000, capped by the maximum allowance.

If you have no income at all or earn less than £3,600, you can still contribute up to £3,600 – £2,880 in personal contributions and £720 tax relief.

Dazed_and_C0nfused

Scallypud said:

I have recently retired and have no intention of working again. 
My question to the forum is how much can i invest into my SIPP pension to take full use of the 25% tax free contribution.
I made around 14k before retiring. I have invested 10k so far this tax year.
It is my understanding that i can only invest 14k this tax year but does this include the 25% tax free contribution, or can i invest another 4k?
Also how much can i invest next tax year before taking my pension?
Thanks in advance for your help.

Do you mean £10k net or £10k gross?

dunstonh

I made around 14k before retiring. I have invested 10k so far this tax year.

With pension contriubtions, its best to quote gross figures.   £14k of income means £14k of pension contributions which is £11,200 after basic rate relief.

It is my understanding that i can only invest 14k this tax year but does this include the 25% tax free contribution, or can i invest another 4k?

Tax relief is a relief, not a bonus.   It reduces the total figure rather than being added to it.

Also how much can i invest next tax year before taking my pension?

£3,600 is the non-earners maximum.

Albermarle

It is my understanding that i can only invest 14k this tax year but does this include the 25% tax free contribution
relief

Yes

Secret2ndAccount

Did you already make any contributions to an employer's pension scheme through work? Your contribution limit is a total for all your contributions (there is a separate limit for all contributions including your employer, but you don't seem to be close to that).
Assuming the 14k is the top line of your pay slip, before deductions, and not your take home number, then you can pay 11,200 into the SIPP, which will be topped up to 14,000. If you have made any contributions at work, reduce the 14k by whatever you paid there.
If you have little or no earnings, you can contribute 2880 next year, which will be topped up to 3600

0.8 is the multiplier. Multiply the final target by 0.8 to get your contribution.