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Question about activating the MPAA and the current tax year
TIALTNGO
Posts: 14 Forumite
I've recently had to give up my P/T job due to ill health and looking to start drawing down from my crystalised drawdown pot. I previously took the 25% TFLS and the remainder moved into drawdown. I also have a small uncrystallised pot with the same provider.
My question is that given I have been working this tax year and earned around £15K before leaving my P/T job, am I able to pay pension contributions up to £15K (including tax relief ) into the uncrystallised pot or am I only able to pay £2880 this uncrystallised pot once I start drawing down from the crystallised pot.
My question is that given I have been working this tax year and earned around £15K before leaving my P/T job, am I able to pay pension contributions up to £15K (including tax relief ) into the uncrystallised pot or am I only able to pay £2880 this uncrystallised pot once I start drawing down from the crystallised pot.
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Comments
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You can still pay in the £15k. Do it before drawing from the crystallised pot as doing that reduces the maximum to £10,000.TIALTNGO said:I've recently had to give up my P/T job due to ill health and looking to start drawing down from my crystalised drawdown pot. I previously took the 25% TFLS and the remainder moved into drawdown. I also have a small uncrystallised pot with the same provider.
My question is that given I have been working this tax year and earned around £15K before leaving my P/T job, am I able to pay pension contributions up to £15K (including tax relief ) into the uncrystallised pot or am I only able to pay £2880 this uncrystallised pot once I start drawing down from the crystallised pot.1
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