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Trying to figure out my situation for tax relief & AVC…..


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Written on: 30.11.2009 [03:34]
Kirk
Kirk
Topic creator
Posts: 2
I am trying to figure how I would be able to contribute to my pension scheme and what band I am under for the tax relief. AVC seems a good way to top up a pension and seeing as I just got a bonus that I do not really need at the moment I thought it would be a great way to put the money to a good use.  I am 28 and currently put 4% into the company pension scheme, how much more can I add?
Written on: 05.12.2009 [23:28]
Lina
Lina
Posts: 2
For your age the tax relief available is up to 15% so you will be able to add another amount up to 11% of your wages. But be careful this changes if your company also puts money towards your pension scheme. For example, if part of a Defined contribution pension scheme they may add up to the same amount as you and this would make the amount you pay in as an AVC drop to 7%.
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