Pension Contribution Secrets: Annual Allowance and Carry Forward

This video looks at how much you can you pay into your pension. We look at how to work out your annual allowance and the rules around Carry Forward.

Whether you have a Defined Contribution or Defined Benefit pension, we explore the rules for both types of pensions. We also look at other little known contribution rules such as if you can contribute to a pension if you have no earnings or if you are retired. We also look at how you can make a pension contribution if you run your own business.

TIMESTAMPS:
00:00 Pension Contribution Secrets: Annual Allowance and Carry Forward?
00:47 Defined Contribution Annual Allowance
01:32 Defined Benefit Annual Allowance
04:12 Carry Forward
05:51 Pension contributions if you have no earnings or retired
06:40 Pension contribution fro a child
07:23 Money Purchase Annual Allowance
07:52 Self Employed pension contributions
08:35 Tapered Annual Allowance

* DISCLAIMER **
The content in this video is provided for information and entertainment purposes. It should not be construed as direct or indirect financial advice. You must thoroughly research any potential financial or investment decision and fully understand the risks before taking it. If in doubt, you should seek Independent advice from a professional adviser.

[davidcollier]

Many thanks Alex, this was perfect and answered so many questions. I'll have to check out your other videos.

[neilcook]

Love your UK focussed content Alex, keep up the good work. If you have multiple DB pensions and a private pension, can you start taking from one DB pension without it crystallising the others? And if you’re still working could what you draw from one DB pension be added into your private pension or is this considered recycling?

[amerasinghamkarunananthan]

Alex, please do a blog on Annuity 🙏🏽

[johnporcella]

The text you displayed on screem did not stay up long enough for me to read it in full.

[willlsmith]

Another great have a wife id getting £13k a year pension which takes her over her annual tax I contributed to a SIPP for the £2880 and she got 20% boost would that then not have 20% tax on it when withdrawn in turn wyping out any tax in advance and keep the up the great work.

[maatmagufuli]

Can I get carry forward if I am unemployed and contribute to a Vanguard SIPP ?I currently contribute £100 per month ( my contribution is from savings no employment) that would leave £1680 that I could carry forward if I am qualified. Thank in advance for your answer.

[MatthiasKroeger-fn]

Let's say someone is allowed to voluntarily pay in £10k into their pension (earnings for the year less allowance). Would they pay in £10k and get the 20% tax relief on top, or, would they pay in £8.3k and get £1.7k tax relief?