"If you are aged under 30 and contributing 5% of your salary as part of the normal pension scheme, you will be able to get tax relief on an extra 10% of your salary."
Brendan included the above as part of the FAQ on Defined Contribution pensions. I am 25 and have had a defined benefit pension for the last 4 years. I have moved job and the new company's pension scheme is defined contribution. I will be paying 4% into the scheme and the company will contribute 3% (while I'm under 30).
If I pay 1% AVC, can I get the tax relief as mentioned by Brendan. How does this work? BTW, I have a mortgage already.
Thanks in advance,
Pup