▲ 3 r/PensionsUK
How do I feed in lump sum?
I started a pension very late in life, but have something of a plan now...😀. I plan to retire overseas, have about £100k equity in my house. If I sell up soon, what's the best way to feed this into my pension pot? My understanding is that I can contribute up to 100% of my annual salary per year and can backdate this for 3 years..but would I need to deduct from this the contributions I and my employer gave already in this period?
I've made some small contributions directly over the lsst couple of years as well but fairly nominal, less than £1k.
My salary is about £32k per year PAYE but I salary sacrifice everything above minimum wage into my pension pot.
Thanks
u/pjm101101 — 5 days ago