Best place to put extra savings after maxing out workplace pension contributions and ISA allowance

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  • Albermarle
    Albermarle Posts: 21,943 Forumite
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    If payroll are unwilling to budge on 10% max (which would be odd) then set up a standing order into the pension account on the same day as your salary goes into your account 
    In these situations it is wise to check with the provider first. There have been examples where the provider pension is only geared up to accept employer salary sacrifice contributions, and if you make a personal contribution, then no tax relief is added.
    It normally should be OK but worth checking in advance.
  • jimjames
    jimjames Posts: 17,580 Forumite
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    If payroll are unwilling to budge on 10% max (which would be odd) then set up a standing order into the pension account on the same day as your salary goes into your account 
    Unless it's a timescale issue. Our SalSacrifice scheme doesn't allow changes mid year except in the event of major change in circumstances. It can be changed in April each year without restriction so this might be a similar situation.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • OK thanks. Work just confirmed the max salary sacrifce I can make is my current 10%, so I assume the next best option is to add to Aviva workplace pension myself?
  • Albermarle
    Albermarle Posts: 21,943 Forumite
    First Anniversary First Post Name Dropper
    OK thanks. Work just confirmed the max salary sacrifce I can make is my current 10%, so I assume the next best option is to add to Aviva workplace pension myself?
    As already said.
    In these situations it is wise to check with the provider first. There have been examples where the provider pension is only geared up to accept employer salary sacrifice contributions, and if you make a personal contribution, then no tax relief is added.
    It normally should be OK but worth checking in advance.
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