Directors penion - Finance act 100% limit work around

[Bmd2016]

I am looking to reinstate pension payments from my close company after taking a break for a few years and I have now learned of the new finance act rules that limit my contribution to 100% of my wages ( I dont want to take wages from the company right now..)
I have laid out some figures below that help reduce any cost to me overall, can anyone offer any insight if i have missed anything:



Wage paid from company €10,000
Taxes €5,210
Net wage after tax €4,790

Company pension cont. €10,000



Personal pension cont. €7,983
Tax relief @ 40% €3,193
Net cost €4,790

Total pension contributions €17,983

Cost:
Pension payment €10,000
Wage payment €10,000
Corporation Tax saving (€2,500)
Cashflow payment €3,193
I. Tax rebate (€3,193)

Net cost €17,500

I have 20% bracket on 100k PAYE

This means I will now have a personal and company policy but ultimately gets me what I want?

 

[Okokokoknic]

.

 

[Fortune]

Any year you don't take a salary doesn't count for purposes of determining service when completing a retirement funding check (and calculating the maximum pension lump sum).

You should take a salary each year, even if it's just a nominal amount.