We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pension top up
2P9E0T
Posts: 1 Newbie
Can anyone advise a pension dinosaur on the following.
I no longer work and have just reached retirement age. Am not taking my private pension as yet but If I invest £2880 into my private pension now is the top up tax free if I want to withdraw it later
0
Comments
-
No. You will have £720 in pension tax relief added your pension giving you a gross contribution of £3,600.2P9E0T said:Can anyone advise a pension dinosaur on the following.I no longer work and have just reached retirement age. Am not taking my private pension as yet but If I invest £2880 into my private pension now is the top up tax free if I want to withdraw it later
When you withdraw it £900 is tax free. £2,700 is taxable income. The tax payable will depend what other taxable income you have in the tax year you withdraw it.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.9K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.1K Spending & Discounts
- 244.9K Work, Benefits & Business
- 600.5K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards