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Pension Query

FrankN1 · 2024-11-18 14:20:36

If you earn 50k and say are 42, can you only contribute 25 percent so 12.5k to pension and get tax relief or can you make AVCs to value or 23k? (20 percent of 115k limit) ? Thanks

18-11-2024 03:20PM

#1

FrankN1

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If you earn 50k and say are 42, can you only contribute 25 percent so 12.5k to pension and get tax relief or can you make AVCs to value or 23k? (20 percent of 115k limit) ?
Thanks

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Comments

#2 18-11-2024 06:16PM

cython

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The former. 115k is a cap on reckonable earnings if you earn in excess of that. If you don't earn that much, then your cap for relief is 25% (based on your age) of your actual earnings.

2