I just want to check the position in relation to my wife, who has not worked for may years. During her earlier working life she acquired 3 pensions, and some years after they were introduced a SIPP. I was not efficient about using her annual £3,000+ allowance whilst she was not working. The result was that 3 of these pensions pots (including the SIPP) were very small and one is still worth around £30k.
I cashed in the 3 small pots (including the SIPP) as "triviality payments" a couple of years ago when her unearned income was particularly low. She took 25% of each pot tax free and paid tax on the rest.
Her unearned income has now risen and I would like to use this years £3,600 allowance and the unused allowance for the previous 3 years to offset against this year's income.
She was still a member of one scheme throughout this period, but I am not sure if they would accept new contributions, and in any event, my preference would be to open a new SIPP. Is this permissible ?
Am I correct that the triviality payments are not a bar to future contributions (there is no question here of 'recycling') ? If they are not a bar, to get carry forward relief do the contributions have to be into a scheme that was alive in the earlier years, or is it sufficient that she had another policy alive at that time which still remains alive ?
Any help appreciated (as always) !
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