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Paying into Two Pensions??

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I am a Partner and paying into my pension each money via my company accountant.  Soon I am going to be an employee and will be auto-enrolled into the company pension.  I only have 18 months left to work, my questions are:
     is it worth paying into the company pension for 18 months
     can I still pay into my private pension

Sorry if these are obvious questions to you knowledgeable people


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  • Marcon
    Marcon Posts: 11,437 Forumite
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    edited 11 July at 10:48AM
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    I am a Partner and paying into my pension each money via my company accountant.  Soon I am going to be an employee and will be auto-enrolled into the company pension.  I only have 18 months left to work, my questions are:
       1.  is it worth paying into the company pension for 18 months
        2.  can I still pay into my private pension

    Sorry if these are obvious questions to you knowledgeable people


    1. It's certainly worth joining and staying in the scheme. Why would you give up free money from your new employer? Even if you only build up a small amount of pension, it's still valuable, however much it is.
    2. Yes, subject to maximum HMRC limits. See https://www.gov.uk/government/publications/rates-and-allowances-pension-schemes/pension-schemes-rates#:~:text=There's%20no%20limit%20on%20the,contributions%20to%20registered%20pension%20schemes.
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • dunstonh
    dunstonh Posts: 117,050 Forumite
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         is it worth paying into the company pension for 18 months
    Do you like free money or not? if yes - then you joint the scheme.  If not, then you don't. 

    Whether its 18 months or 18 years, it is still free money.   Plus, there a very many people who have continued longer than they originally planned.

        can I still pay into my private pension

    You can have as many pensions as you like 

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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