Pension contribution

[Csills73]

Good afternoon,

Would someone be able to let me know please with regards to the annual 60K pension allowance payment for directors paid by the employer. Does this amount include both employer and employee contribution that the director received through their Paye salary, or the 60K is a separate one?

Many thanks

 

[Newchodge]

Good afternoon,

Would someone be able to let me know please with regards to the annual 60K pension allowance payment for directors paid by the employer. Does this amount include both employer and employee contribution that the director received through their Paye salary, or the 60K is a separate one?

Many thanks

All private pension contributions, from whatever source, are limited to £60,000. Higher contributions are subject to tax.

 

[Csills73]

Thank you very much for your prompt answer and help

 

[GLAbusiness]

Once you start to drawdown from the pot the allowance drops to £10k