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Pension carry forward amount confusion

waveyjane · 2023-06-13 11:47:06

I want to pay a lump sum into my SIPP. I also have an employers pension (as salary sacrifice). The sum is greater than my (likely) income for 23/24 though. If I enter the relevant total contribution figures in this carry forward calculator, it says this year I can contribute a bit more than the value of the lump sum I had…

Comments

MallyGirl Posts: 7,504 Senior Ambassador

14 June 2023 at 7:41AM

Just a heads up - my employer has implemented a limit to the amount they will let me Sal sac. I suspect it is a clunky approach to avoiding NMW calcs. If I Sal sac more than 70% of my salary - was going for the lumpy method - then anything above the 70% went in to my pension a different way so I missed out on the NI savings on that bit. It wasn't a publicised limit as they didn't expect anyone to hit it (they said when challenged).

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