Rules in relation to SIPP drawdown

Moby

I retired a couple of years ago and have a monthly income from a defined benefit pension. I have also paid into a separate SIPP. When I retired I took the 25% tax free lump sum from the SIPP. The SIPP then moved to something called a Pension Drawdown Account. I have just left this account as it is and have not gone into drawdown....I know I can still invest in this account but am not sure of the rules now....does any money I put in qualify for tax relief and if so is there a limit as to how much does qualify and is there a limit as to how much I can put in? If I do then go into drawdown, is it at this point that I can no longer contribute into the pension or does this mean a new limit kicks in?  

Dazed_and_C0nfused

Do you have any earnings?

If not you are limited to £3,600 (gross) each tax year for tax relief purposes.

Moby

Dazed_and_C0nfused said:

Do you have any earnings?

If not you are limited to £3,600 (gross) each tax year for tax relief purposes.

My only income is my work pension. I don't know if that is classed as earnings?

Albermarle

Moby said:

Dazed_and_C0nfused said:

Do you have any earnings?

If not you are limited to £3,600 (gross) each tax year for tax relief purposes.

My only income is my work pension. I don't know if that is classed as earnings?

It isn't .

If I do then go into drawdown, is it at this point that I can no longer contribute into the pension or does this mean a new limit kicks in?  
You can still contribute until you are 75, but maximum £3600 gross ( £2880 from you and £720 tax relief) per tax year, as you have no pensionable earnings.