Additional Pension Payments

Sobeboy15

I am retired and I have a Personal Pension with Scottish Widows which I understand I can add to it each year £2880.00 with tax relief £3600.00.

Im 57 years old and I thought I had a D/D in place to do this annually and it appears I haven't so for the last tax years (24/25 and 25/26) I have made no additional payments.

I can make a payment today for £5,760.00 for both of those years but I don't want to cause issues on my self assessment.

Any Advice would be appreciated thank you.

Isthisforreal99

You can only pay in £2880 for this year, it's use it or lose it.

Marcon

https://forums.moneysavingexpert.com/discussion/6661441/additional-pension-payments

Do you have any earned income in the current year (pension income doesn't count)? If not, then you are limited to contributing £3,600 gross (ie you pay in £2,880 and the provider adds the 'tax top up' at basic rate to bring you up to £3,600).

Sobeboy15

No I don't have any earned income so I know I can put in £2,880, however as I missed tax year 24/25 I was wondering if I could add it into this years payment which I have to make tomorrow?

Thanks

molerat

Simple answer ……. no. As stated above, use it (in the tax year) or lose it.

Sobeboy15

Ok that's great thank you for your help