Pension Allowance - Final Salary Pension

Pension Allowance - Final Salary Pension

Postby ny_rk on Sun Nov 27, 2011 11:40 pm

Hi

I have a few pensions from previous jobs. One pension is a final salary pension that's index linked. I'm trying to figure out how much of my annual pension allowance of 50K this final salary pension eats up. I want to top up my current employer pension but am wary of exceeding my limits....any help is welcome...

Thanks
ny_rk
 
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Joined: Wed Aug 06, 2008 3:51 pm

Re: Pension Allowance - Final Salary Pension

Postby tax_schmax on Mon Nov 28, 2011 10:23 am

You need to calculate the increase in your pension from last year to this minus the inflation linked component, and then multiply it by 16. Your pension administrator can tell you exactly what you have used. You are also able to carry forward unused allowances from the last 3 years.
tax_schmax
 
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Joined: Wed Aug 06, 2008 3:53 pm


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