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Can I make contributions to my money purchase scheme and still get tax relief on those contributions?

19 June 2023

Question by Ian

I am taking an income from my final salary pension scheme (no other earnings). I have a money purchase which I have not accessed. Can I make contributions to my money purchase scheme and still get tax relief on those contributions?

Answered by Adrian Kidd

Hi. Yes you can! Final salary pensions do not affect the money purchase annual allowance rules. The contributions are limited though. As you have no earnings, this will be £2,880 or £3,600 gross with the tax relief added.

Adrian Kidd
Chartered Financial Planner

Answered by

Adrian Kidd

Life Planner and EQ Coach

I am a family man first and foremost. Everything revolves around my wife and daughter. After them, comes helping people via financial coaching or creating their own individual life plans.