Funkstain wrote:Of course the other massive benefit I didn't mention (because I can't take advantage of it) is that most workplaces have pension schemes where they will top-up more to your contributions: usually more than you put in yourself! So you'll put in say 5% and your employer will add 8%. Now only your contribution attracts the tax relief at marginal rate but that's still a jolly nice top-up
SpaceGazelle wrote:Contribution limit is 40K a year?! Christ that's generous.
MattyJ wrote:Civil service here, so I can’t complain about pension. I pay in 5.45%, they pay in 27%.
MattyJ wrote:Civil service here, so I can’t complain about pension. I pay in 5.45%, they pay in 27%.
Funkstain wrote:MattyJ wrote:Civil service here, so I can’t complain about pension. I pay in 5.45%, they pay in 27%.
This amazing on the face of it deal was of course the only way they could stop mass strikes at civil service when they stopped new entrants to the defined benefit schemes
Gamermike wrote:I really need to sort myself a pension pot. I've had various workplace ones over the years but no idea where or how they all eventually amalgamate when the time comes.
But i've been self employed for a while and haven't paid anything in recently, I was actually a bit oblivious to the tax benefits. Someone point me in the right direction?
Dark Soldier wrote:GMC is great, I pay 1% (lol), they pay 15%.
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