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

Author	Message
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%.
Also very interesting: A SIPP pension, or Self Invested Personal Pension, works in much the same way as a regular pension fund, except for the way in which it is invested. It's certainly possible to organise income drawdown if you have a SIPP, providing your pension fund manage Trying to figure out my situation for tax relief & AVC….. Where can I compare annuity rates? FSA got anything? Why have final salary pensions stopped? FSA Pension calculator query: what is the lump sum? Is it necessary to send medical forms to the pensions office? Possible to recontract back into Serps pension? Tips on finding right retirement investment account? What count as assets? Accounts and investments? What is the pensions calculator supposed to prove?