Pension and Isa strategy

Accountantwolf

Hi all

Just thought I'd get some wider thoughts on my current thinking. As background, I'm 40ish, earn £260k per year including bonus, have £400k in a DC pension and £130k in S&s Isa. I am married and my wife earns approx £13k, and in enrolled on a LGPS scheme. Our Isa number above is our combined total.

I'm starting to have my pension annual allowance tapered. I'll put in about £55k this year and it has been less the last few years, so do have some carry back allowance. Given im paying 45% tax, given salary sacrifice I save the NI and my work contributes half of their NI saving too. So another 3% ish. I'm thinking to continue ploughing money into my pension whilst I still have AA remaining, which I may lose quickly if I get a promotion in the short term. I'll then likely move to maxing Isa's whist possibly looking at AVCs on my wife's pension. We dont max Isa's currently as keen to enjoy life!

Am I missing anything?

Albermarle

With such a very high income, probably paying for some professional advice would be a good idea.

Not many people on this forum will have experience in how best to deal with this type of situation.