Quote:
Originally Posted by gangzoom
I have no idea about pensions, but how do people manage to put £40K pa into a pension scheme, isn't that over £3K a month. Or does it work on the basis your empoyer has to match your contribution? Even than I'm barely managing 1/4 of that, better work hard than....at least I got over 30 years of work to look fowards to before retiring  |
If you are a higher rate tax payer, you need to put £2k/month into a pension to achieve £36k/year, higher rate tax relief tax makes up the rest.