AVC contribution into a Final Salary scheme

torro123

I'm an active member of a final salary scheme, and I'm now facing redundancy. I'm looking to understand whether I can make a one off AVC lump sum contribution of £100k, and use carry forward to make use of unused annual allowance from previous years. I'm hoping someone is able to answer my question.

TheSpectator

What will your total income be including redundancy?

Do you know your Pension Input Amounts for previous 3 years?

dunstonh

torro123 said:

I'm an active member of a final salary scheme, and I'm now facing redundancy. I'm looking to understand whether I can make a one off AVC lump sum contribution of £100k, and use carry forward to make use of unused annual allowance from previous years. I'm hoping someone is able to answer my question.

If you earn enough or the contribution can be classed as an employer contribution, then yes, you can.  

If you are not going to have sufficient earnings to cover £100k contribution in that tax year or some or all of it cannot be made as an employer contribution, then no you cannot.

torro123

By the time I leave employment, which will be 25th June my total earnings plus redundancy will be around £170,000. I don't know off the top of my head my pension inputs amount, but there will be unused pension allowance

DavidT67

Also note that AVCs don't go into the DB scheme, they are a separate DC pot.