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USS Personal Allowance Calculation - any advice please
How do I work out what I have left in my personal allowance (max is £60,000) if I retire at the end of this month? Is there a calculation I can make?
The USS Contributions & Tax Calculator allows me to model against the Annual Allowance, but does this for a full year. I suppose I could divide by 3, (four months, April to July), but I’m not sure what this would give me other than a figure divided by 3!
The reason that I am asking is that I have a part time job lined up and wondered what I can contribute to a personal pension.
Any advice is very welcome!
Comments
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A couple of weeks before your retirement date, USS will send you a confirmation of benefits letter. That letter should include a figure showing your total pension input amount for the current tax year (RIB and IB), from which you can work out any remaining Annual Allowance.1
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