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Old 18-01-2021, 17:28   #24
Arthur Fowler
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Quote:
Originally Posted by cjanderson View Post
i am trying to work out this year if its worth me putting extra into pension when I am now a 20% tax payer.

As you then pay 20% on it when you get the money in the future

Though it also will save me NI won't it at 12% (and employer gives me half of their NI saved) so I get an extra 19% on top of the tax saving.

Before I always tried to get just below 40% band via pension so not thought about the maths of doing it at lower salary levels.
Good point on the paying tax when you take your pension. Should have made that clear on my previous post.
I intend to take a big chunk of the extra contributions I am making now in the tax free lump sum when I retire.
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