Exec pension plan v mortgage

[Familyman77]

First time posting. Just curious for peoples opinions. I signed up for an executive pension plan through work and they have paid into it the last 2 years ( year end bonus ) . I'm on the 40% tax and was considering at the time taking of putting it through payroll and then overpaying on the mortgage. Wondering if I was right to go down the pension plan route.

 

[Conan]

Depends on your type of mortgage. If a Tracker, it probably makes little sense in overpaying.
I assume your Employer is also contributing to the Pension, in addition to your bonus?

 

[Familyman77]

Conan I'm on a SVR with AIB ( mortgage was taken in 2009 )at 3.15%. Mortgage is 185k. I have a small CWPS pension which will be worth 150k when I retire ( this is the one my employer contributes to ) . The performance bonus is separate so we've put this into the executive PP the last 2 years. I was told this was far more tax efficient. My other option would be to take the bonus through payroll but the stoppages were over 55% . Was trying to weigh up the interest I'm paying on the mortgage versus the stoppages.