Child support & SIPPs

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
3 replies 501 views
ReaperReaper Forumite
7.2K Posts
Part of the Furniture 1,000 Posts Photogenic
✭✭✭✭
Not sure if I should post this here or benefits section, but I'll try here first...

I gather those with income above a threshold are about to lose child benefit payments. I gather salary sacrifice into a company pension lowers your salary as far as the calculation is concerned but what I can't find an answer to anywhere is whether putting money in a SIPP works the same way for the purposes of calculating your income.

Anybody know?

Replies

  • dunstonhdunstonh Forumite
    107.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    pension contributions lower your income for most areas of tax and benefits. It doesn't have to be salary sacrifice. I havent read anything saying child support will be different to the all the others (which includes working/children tax credits, personal allowance reduction and tax rate bands).
    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.
  • ReaperReaper Forumite
    7.2K Posts
    Part of the Furniture 1,000 Posts Photogenic
    ✭✭✭✭
    Thanks, that's reassuring.

    I was just concerned that everything I could find only ever talked about salary sacrifice as an option, and my company's pension fund choices are uninspiring to say the least so I would rather not pay in any more than I have to.
  • SystemSystem Forumite
    177.9K Posts
    10,000 Posts Name Dropper
    ✭✭✭✭✭✭
    dunstonh wrote: »
    pension contributions lower your income for most areas of tax and benefits.

    That presumably only means employee contributions, not employer?
This discussion has been closed.
LATEST MSE NEWS AND GUIDES

Cheap Train Tickets

Hidden fares, split tickets and how to beat booking fees

MSE Guides