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    • Home • Advice • Common questions

    Is it possible to draw the state pension and still invest in a defined contributions scheme at the same time?

    15 November 2021

    Question by Zak

    Is it possible to draw the state pension and still invest in a defined contributions scheme at the same time? I am approaching my state pension age but want to carry on working and want to add to my pension pot up to the maximum £40000 allowance.

    Answered by Boring Money

    Hi Zak, yes this is possible assuming you have sufficient UK relevant earnings to continue contributions into a defined contribution scheme up to £40,000, otherwise it's a £3,600 annual allowance.

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    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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