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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
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Comments
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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.
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