Pensions, Annuities & Retirement Planning

A question about : Maximising Pension Contribution

Hi,

Say I have a salary of Ј20,000pa additionally my employer makes a pension contribution of Ј4,000pa under a salary sacrific arrangement.
What is the maximum amount I'm allowed to contribution to my pension plan for the year.....presumably it is either (a) Ј20,000 or (b) Ј16,000 ?

A question about : Draw down one pension then start another

Hi

I am thinking of taking my Final Salary pension later this year. I have plans for the TFLS but as I will continue to work I don't need the monthly payments. I know I'm lucky.

Because of my wages the monthly pension payments would be taxed at 40%.

Would it be possible to put the entire pension monthly payments into a new pension, avoiding all tax and when I finally do retire take another 25% TFLS?

A question about : State Pension for Wife

Hi,

After some advice on how my wife can claim a state pension when she reaches that age.

She is Italian and lived here for 5 years, aged 29. She did work for 6 months during this time.

From what I'm reading she needs 30 years worth of contributions or credits?

We don't claim any benefits.

She has just started her own online business which she will run from home but she won't make much from this.

A question about : Where to start?

I know, I know, I'm 53 and all this seems a bit late. And tbh, a bit overwhelming!

Anyway, following a few life events (2 divorces, 4 children as a single parent, a breakdown, bankruptcy and last, but not least cancer) I am in a seriously perilous position regarding retirement.

A question about : Tax relief on carry over contributions

Take an example where relevant earnings are Ј100k and total pension contributions are Ј70k and where carry forward relief covers the Ј30k excess over annual allowance.
Is tax relief given on the whole Ј70k or just the first Ј40k?
Thanks

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