Author Topic: Financial Gurus help needed  (Read 1951 times)

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Offline legless

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Financial Gurus help needed
« on: February 19, 2018, 18:51:05 PM »
 If you are still in full time employment can you take your state pension & put it in a private pension and still get tax relief on the money you put in ????

Thanks in advance 



Offline Colwyn

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Re: Financial Gurus help needed
« Reply #1 on: February 20, 2018, 10:12:07 AM »
Looks like you might need professional advice on this one. A thought crossed my mind: if you want to put £500 a month into your pension pot what is the difference between your plan and the alternative of saving £500 out of employment income (on the assumption you get tax relief on this) and spending your pension instead?

Offline jondo

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Re: Financial Gurus help needed
« Reply #2 on: February 20, 2018, 12:01:36 PM »
There wouldn't be a problem with that Legless. It's when people 'recycle' their lump sums into personal pensions than HMRC get bothered.

I'm not understanding the question, Colwyn. I'm only a financial adviser!

Offline Colwyn

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Re: Financial Gurus help needed
« Reply #3 on: February 20, 2018, 12:05:49 PM »
In which case I withdraw the question in the face of relevant expertise   :) .

Offline jondo

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Re: Financial Gurus help needed
« Reply #4 on: February 20, 2018, 12:19:02 PM »
Colwyn, got it! You've basically answered the question in more detail. i.e. it is the same difference.




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