Private Pension

Frostie24 · 2023-07-11 18:51:00

Hi Can anyone confirm if you are paying into a single public pension can you get tax credit on a private pension and is there a cap on total you can get tax credit on ? Thanks

11-07-2023 06:51PM

#1

Frostie24

Registered Users, Registered Users 2 Posts: 40 ✭

Join Date: February 2022

Posts: 34

Hi
Can anyone confirm if you are paying into a single public pension can you get tax credit on a private pension and is there a cap on total you can get tax credit on ?

Thanks

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#2 11-07-2023 06:55PM

Get Real

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Join Date: August 2012

Posts: 966

You can pay into an AVC like anyone else. I'd recommend it in particular if you're post-2013 as your pension will be equivalent of social welfare rates anyway.
The cap depends on your age. For example, if under 30 you can put up to 15percent of your income into an AVC. 20percent plus for older sges.
This is exempt from income tax so 100quid a week will only cost you 60.

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#3 15-07-2023 06:40PM

Frostie24

Registered Users, Registered Users 2 Posts: 40 ✭

Join Date: February 2022

Posts: 34

Thanks for reply.

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