We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Pension Contributions
whu
Posts: 23,461 Forumite
Hi
I know these questions may be a bit silly but I would appreciate your views:
1 I am in a group personal pension scheme- are the contributions made to a pension calculated on gross or net salary?
2Am I allowed to make AVC's either monthly or as a lump sum - if so would I get tax relief?
Thanks.
I know these questions may be a bit silly but I would appreciate your views:
1 I am in a group personal pension scheme- are the contributions made to a pension calculated on gross or net salary?
2Am I allowed to make AVC's either monthly or as a lump sum - if so would I get tax relief?
Thanks.
Keep the Faith:cool:
0
Comments
-
2Am I allowed to make AVC's either monthly or as a lump sum - if so would I get tax relief?
You are not allowed to contribute to an AVC with a group personal pension. Your choices are increasing the contribution to the group scheme or start your own personal pension, stakeholder or SIPP.
You pay net of basic rate on those. increased contributions into the group scheme would be taken from your payslip.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi
I know these questions may be a bit silly but I would appreciate your views:
1 I am in a group personal pension scheme- are the contributions made to a pension calculated on gross or net salary?
2Am I allowed to make AVC's either monthly or as a lump sum - if so would I get tax relief?
Thanks.
They are not silly-
Doesnt your company have someone who administers the GPP? Ask them -get them to work for their money!0 -
thanks - have spoken to them and am a bit clearer - they said that although i cant put in AVC i can put in a lump sum.
one point - when you claim back tax relief on your contributions is it on the gross or net contributions?Keep the Faith:cool:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards