Can Notional Pay be considered for pension contribution?

[Pafit64]

I am preparing to make my first annual contribution to my new PRSA account for the 2023 tax year. I am 55 years old.
I intend to make the maximum contribution allowed for my age bracket of 35%

Can notional pay be taken into account when calculating how much I can contribute ?

 

[Dave Vanian]

Can you clarify what you mean by notional pay? Are you in receipt of some form of Benefit in Kind paid for by your employer, e.g. a car?

 

[Pafit64]

yes, I am. I mean paid medical insurance.

 

[Conan]

yes, I am. I mean paid medical insurance.

If that “notional pay” is treated as Benefit In Kind - as thus taxed as an additional income- then the answer is YES. Basically, any income that is taxable under PAYE is in theory pensionable.

 

[Pafit64]

Many thanks for this clarification.