Contributions

What’s the money purchase annual allowance (MPAA)?

This term refers to the reduced annual allowance for contributing to your pensions savings. For the 2022/2023 tax year, the …

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What happens if I exceed the annual allowance limit?

  If you have no scope to carry forward your contributions from the 3 previous tax years, you’ll be required …

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If I increase my contributions, can I get my personal allowance back?

Contributing to your pension pot reduces your taxable income and can give you back some or all of your £12,570 …

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Do I still pay contributions if I’m on paternity leave?

Contributions can continue to be paid into your pension pot. The employer should pay the contributions based on your pay …

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Do I still pay contributions if I’m on maternity leave?

There are rules in place which determine how much you and your employer should contribute to your pension scheme during these periods …

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What’s tax relief?

 For more information about tax relief, please visit our pension tax webpage.    

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What’s the maximum amount I can pay into my pension pot?

 You can pay as much as you like into your pot, but there are limits to how much tax relief …

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How much should my employer contribute?

Your employer has to pay a minimum of 3% on what’s known as qualifying earnings into your pension pot. This …

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What’s the minimum amount that I can pay into my pension pot with The People’s Pension?

  The minimum total contributions under auto-enrolment have been set down by the government and have increased in stages. The …

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Are there any disadvantages of salary sacrifice?

You need to consider the following downsides of salary sacrifice: Lower life cover (this is because employers generally work out …

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