Pension that accepts gross personal contributions
arongunningham
Member
Does anyone know a provider that can accept personal contributions but not auto-add tax relief to them. I'm looking for a way for an over 75 to pay into a pension.
Comments
On Zurich when you key on business for Personal Pension contributions it lets you select tax relief as an option, so you would choose Retirement Account, the source of wealth, relevant earnings then the contribution amount and then Tax relief Yes/No.
That's the only one off the top of my head, when you put in gross amount for other providers it automatically nets it down usually.
You can do this on Aegon ARC. When you select the regular contribution option it states "contributor - Investor no tax relief". For over 75's.
Great, thank you!
Aviva also can do this. I know Transact can not do this currently.
At the risk of sounding dim, can I ask why you would recommend an over 75 to contribute the gross payment into a pension? wouldn't an ISA be a better option? did the client have IHT issues?
thanks
> At the risk of sounding dim, can I ask why you would recommend an over 75 to contribute the gross payment into a pension? wouldn't an ISA be a better option? did the client have IHT issues?
>
> thanks
Whilst I can not speak for the original poster IHT would often be a reason over 75 contributions.