Pension Input Amount for CS Classic and Alpha

hugheskevi

https://forums.moneysavingexpert.com/discussion/comment/81998069#Comment_81998069

I am assuming the SEO to G7 promotion is more recent than 2022/23. If it was years ago, that makes things even simpler, as the input spike it will have caused will be irrelevant to the current and last few years, which are the ones that matter for the OP's question.

What OP needs is the Pension Input for 2026/27. A PSS 2026 should be available from Capita by 6th October 2026 showing Pension Inputs for 2025/26, 2024/25, 2023/24 and 2022/23 - this will enable accurate calculation of available carry-forward. Only years from 2023/24 onwards can be carried forward, so 2022/23 and earlier years should be irrelevant (but could be needed to determine exactly how much carry-forward is available from the more recent years).

kermchem

https://forums.moneysavingexpert.com/discussion/comment/81997467#Comment_81997467

@hugheskevi I think there is an error in the example calculation at the page you have linked (is this Capita?).

The example works out the accrued pension at the end of 2022/23, i.e., at 31st March 2023, adds inflation for 2024/2025, then works out the accrued pension for 2024/25, i.e., at 31st March 2025 and takes the difference.

Step 1 should be at 31st March 2024.

And unhelpfully it does not say which inflation measure to use.

hugheskevi

https://forums.moneysavingexpert.com/discussion/comment/81998076#Comment_81998076

You are right - the text "Accrued pension at the end of 2022/23" should have been updated to refer to 2023/24 but hasn't been. Unfortunately, a lot of the tax pages and the deadlines for Pension Saving Statement and Scheme Pays requests have not been updated at all.

The inflation measure to use to adjust the opening value is the CPI figure for the September prior to the start of the financial year being calculated. For example, if calculating 2023/24 you adjust the opening value as at 6th April 2023 by the September 2022 CPI figure.

ClashCityRocker1

https://forums.moneysavingexpert.com/discussion/comment/81998072#Comment_81998072

You are of course right - but just to be picky if he WAS promoted in 2023/24 he is likely to have used all that year's allowance up so can't use it for carry forward. But likely to be plenty in subsequent 2 years

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/81997582#Comment_81997582

ah sorry, that’ll teach me to read questions a bit more carefully. Apologies 😬