Question on When I can pay more into Pension

[149oaks]

I just want to clarify something please, as I will be 50 in October can I:
1. Start paying 30% in October?
2. Have to wait until Jan next to start paying 30%? or
3. As I will be 50 within this tax year pay 30% in 2010?

Thanks

 

[Berni]

Option 3, you can pay 30% all this year.

 

[149oaks]

Thanks Berni

 

[G123]

Ref. Standard Life website..."using the age on your birthday that falls within the tax year you are claiming for"​

 

[149oaks]

Thanks for the help, but my Pension Adminstrator has came back and said I can only pay the 30% after I reach 50. Can anyone point me to a link hopefully in the legislation where it states I can pay it for the full year I become 50?

 

[LDFerguson]

See the second page of [broken link removed] from the Pensions Board. It shows age as "highest age at any time during the tax year".

Hope this helps.

Liam D. Ferguson

 

[149oaks]

Thats what I need. Thanks Liam