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Relevant earnings for pension tax relief - pension income?
sham63
Posts: 1,096 Forumite
I have been contributing to a stakeholder pension as a non-tax payer, so max £2880 per annum.
I am now in receipt of an annual pension of £18k, can I increase my stakeholder contributions accordingly? Thanks!
I am now in receipt of an annual pension of £18k, can I increase my stakeholder contributions accordingly? Thanks!
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Comments
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Nope, pension income doesn't count.sham63 said:I have been contributing to a stakeholder pension as a non-tax payer, so max £2880 per annum.
I am now in receipt of an annual pension of £18k, can I increase my stakeholder contributions accordingly? Thanks!
But £2,880 (net) isn't the limit for non taxpayers, it's the limit for non earners and those earning £3,600 or less.
Non taxpayers who are earning can often put in a lot more than that.2 -
OK, thanks. I don’t have any income other than pensions and savings interest, so that’s that then!0
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The £720 each year is still a nice little profit though 😉sham63 said:OK, thanks. I don’t have any income other than pensions and savings interest, so that’s that then!1 -
Yes, definitely! I liked it more as a non-taxpayer though…. :0
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