- This topic has 3 replies, 2 voices, and was last updated 9 years ago by
.
- Posts
I have some queries about pension schemes ,, Can anyone help me please ??
you can withdraw 1.25 million amount from pension scheme that is tax free over and above is taxable . Lemme know this limit is for occupational scheme or the personal scheme ? Or for both ?
Employer contribution is exempt benefit for the employe , if employer contributed more than 40000 ( annual allowance limit for 14/15) Let’s say 55000 , 15000 would arise any annual allowance charge or not ??
And what about personal pension ?? employer can contribute in that scheme , contributing more than 40000 can result in any charge or not ?
Iam not talking about employe contribution . Iam talking about employer’s contribution1.25M is the lifetime allowance for the value of your pension fund not the amount you can take tax free from your pension fund. At F6 you do not have to know how it works, but extra tax costs would then arise dependent on whether you wished to take the cash out or invest it in an annuity
The annual allowance applies to the total pension input for the year irrespective of whether this has come from the employee or the employer.1.25M is the lifetime allowance for the value of your pension fund not the amount you can take tax free from your pension fund. At F6 you do not have to know how it works, but extra tax costs would then arise dependent on whether you wished to take the cash out or invest it in an annuity
The annual allowance applies to the total pension input for the year irrespective of whether this has come from the employee or the employer.
- You must be logged in to reply to this topic.