TheLastBeep
Registered User
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- 30
Hi All,
Query on which elements of my pay count towards the calculation of my limit for tax relieved pension contributions. This might be quite specific to my circumstances or might be of help to others.
I am in the age range where my percentage limit is 25%, however, when I came to calculate an actual figure I realised I wasn't clear on which elements of my pay to include or exclude.
Elements of pay:
Thanks for any help.
Query on which elements of my pay count towards the calculation of my limit for tax relieved pension contributions. This might be quite specific to my circumstances or might be of help to others.
I am in the age range where my percentage limit is 25%, however, when I came to calculate an actual figure I realised I wasn't clear on which elements of my pay to include or exclude.
Elements of pay:
- Basic Pay (Pensionable) - this is pensionable for the purpose of a workplace DB scheme which is now frozen so further salary increase goes into element 2
- Basic Pay (Non-pensionable)
- Car Allowance - I am entitled to a company car but do not take it so get a cash allowance instead
- Other Allowance - I am entitled to various other benefits but do not take the full value so this is the balance
Thanks for any help.