Calculation for topping up pension

gambleruk

Can someone please just check I have worked out the right amount to top up the wife's pension this year, I have got myself confused as included the government contribution at first but obviously an higher amount if I use the figures on her payslip, she has been in and out of salary sacrifice through out the tax year just to complicate the issue.

I get the final figure as £8043.48 she can contribute before the tax year ends.

Many thanks in advance

FIREDreamer

gambleruk said:

Can someone please just check I have worked out the right amount to top up the wife's pension this year, I have got myself confused as included the government contribution at first but obviously an higher amount if I use the figures on her payslip, she has been in and out of salary sacrifice through out the tax year just to complicate the issue.

I get the final figure as £8043.48 she can contribute before the tax year ends.

Many thanks in advance

As earnings are well below £60,000 annual allowance I don’t think you need to deduct the £955.56 employer contribution?

QrizB

You've deducted the employer's contribution, which isn't part of this calculation.

It should be taxable pay £12734.68

less retirement savings plan £1724.77

leaves £11009.91.

Then deduct 20% to give £8807.93 as the relief-at-source pension contribution limit.

gambleruk

Thank you very much both, years of reading up on pensions and still learn things every day.

Dazed_and_C0nfused

QrizB said:

You've deducted the employer's contribution, which isn't part of this calculation.

It should be taxable pay £12734.68

less retirement savings plan £1724.77

leaves £11009.91.

Then deduct 20% to give £8807.93 as the relief-at-source pension contribution limit.

As gross earnings and taxable pay are identical wouldn't that make the 1724.77 a RAS contribution so the gross value is more likely to be £2156?