Max annual amount into Pension
terry999
Posts: 25
Forumite
I wanted to check I've got it correct about workplace pension.
My wage can vary 18-30,000 p.a. Assuming £30,000 p.a the max I can contribute for that year is 30.
1. Does the max. amount include your employer's contribution?
2. I contribute to a Co. share scheme so £100 Gross is taken off my wage per month. Should this 1200 p.a. be removed from the total I can contribute?
As my employer offers Salary sacrifice I've made use of this.
3. Where can I find the amount pre salary sacrifice I've earnt. My P60 will show the amount post Sacrifice.
Is the only place I can see is to total individual wage slips?
I know it would be most efficient to top up using Salary Sacrifice, but as my wage can vary I don't want to get too close to minimum wage.
Thank you for reading
Terry
My wage can vary 18-30,000 p.a. Assuming £30,000 p.a the max I can contribute for that year is 30.
1. Does the max. amount include your employer's contribution?
2. I contribute to a Co. share scheme so £100 Gross is taken off my wage per month. Should this 1200 p.a. be removed from the total I can contribute?
As my employer offers Salary sacrifice I've made use of this.
3. Where can I find the amount pre salary sacrifice I've earnt. My P60 will show the amount post Sacrifice.
Is the only place I can see is to total individual wage slips?
I know it would be most efficient to top up using Salary Sacrifice, but as my wage can vary I don't want to get too close to minimum wage.
Thank you for reading
Terry
0
Comments
-
Employer's contributions are limited by the £40,000 annual allowance - not by reference to your salary.0
-
elouise01582 wrote: »Employer's contributions are limited by the £40,000 annual allowance - not by reference to your salary.
My understanding was you are limited to a total of £40k or your annual pre-tax income. The total to include employers and your own contributions.0
This discussion has been closed.
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