T
The Grinder
Guest
I started a job in the Health board on Feb 2002 with a Temporary Part-Time category of employment. I understood/assumed then that because of my category I would not be entitle to the Health board superannuation pension. So I continued to pay into my already established Personal Pension. I contributed up to the maximum 20% of net relevant earnings allowed in order to claim tax relief.
Recently I got notice from my employers in the Health board saying that I've to join the superannuation pension from the start date of my employment in 2002. I will have to make back contributions for this and will contribute to it going forward.
Eagle Star have advised that a person who is paying into an occupational pension scheme can continue to pay into a personal pension but cannot claim tax relief on contributions to a personal pension.
My question is - should I make my policy with Eagle Star 'paid up' if I can't avail of tax relief which was the reason I started it in the first place. Also, I have got tax relief on this personal pension since 2002. Now that I have to pay back contributions and will get the benefits of the occupational pension from 2002, will the tax man be looking from a repayment of this relief gained up to now on the personal pension payments.
Recently I got notice from my employers in the Health board saying that I've to join the superannuation pension from the start date of my employment in 2002. I will have to make back contributions for this and will contribute to it going forward.
Eagle Star have advised that a person who is paying into an occupational pension scheme can continue to pay into a personal pension but cannot claim tax relief on contributions to a personal pension.
My question is - should I make my policy with Eagle Star 'paid up' if I can't avail of tax relief which was the reason I started it in the first place. Also, I have got tax relief on this personal pension since 2002. Now that I have to pay back contributions and will get the benefits of the occupational pension from 2002, will the tax man be looking from a repayment of this relief gained up to now on the personal pension payments.