Pension contributions for jointly accessed

Silverdream

I am max on my AVC's into my job pension. I have the option to add further AVC's but I would be over the 25% threshold. My wife works in the public service but is not in a position to make AVC's into her pension for another few years. Since we are jointly assessed for tax can I make further AVC into my pension to make up the unused allowance we have?

HRG

Have a similar question myself so hoping this will help bump the thread or did you ever get info on this yourself?

Henry Ford III

If you're maxed out and your wife can't pay AVCs I can't see how there's any further scope.

coylemj

Since we are jointly assessed for tax can I make further AVC into my pension to make up the unused allowance we have?

What you're referring to is not an 'allowance', it's a maximum contribution (as a % of your gross income) that can be made free of tax and it does not apply to a couple, it's per individual, regardless of marital status. What you can aggregate as a married couple are PAYE allowances and the standard rate (20%) band but pensions are treated differently.

FlipFlopAgain

You say "My wife works in the public service but is not in a position to make AVC's into her pension for another few years."

Is this because she can't afford it? Or is it some limitation with her pension scheme or some restriction on her contract of employment?

If the former, then you could gift her some money so that she could make AVCs and make use of the tax relief.

If the latter, and you have a mortgage, then overpaying the mortgage might be your next best option to use up some free cash that you have.

CramCycle

https://www.boards.ie/discussion/2058334599/pension-contributions-for-jointly-accessed

So ask her to buy some anyway and you contribute more to the running of your lifestyles, seems quite simple.