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collie
Apprentice
Joined: 09 Dec 2007
Posts: 4
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 Posted: 03/01/08 - 08:06 Post subject: |
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| Hello everybody. My name is Sally and I would appreciate if someone could help me with my pension plan. Are there some rules of pensions concerning the maximum amount of contributions. In other words, can I contribute to my pension fund as much as I want? Thank you for your posts |
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errol
Apprentice
Joined: 02 Dec 2007
Posts: 5
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| Posted: 03/30/08 - 22:22 Post subject: |
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| Hi there Sally! About your question, here’s the thing. There is no limit for the pension contributions, you can pay as much as you can. But, above the certain level you cannot claim any tax relief. As you may know, you can claim some tax relief based on your pension contributions. I don’t know the exact figures but if you’re under the age of 35, you can pay around 18 000 pounds. This number increases with your age. If you’re over 60, you can contribute I think about 60 000 pounds annually. It would be good to consult someone from your company and to discuss this issue. I hope I was of some help to you. Bye! |
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