Pension options
Discussion
I recently changed jobs from one with a final salary scheme to one without a current pension arrangement. Because of this I'm not currently paying into a pension. Previously my pension payments of around £280/month took my taxable salary below the higher rate tax threshold so I never paid higher rate tax. My new job pays the same salary and so I am now paying higher rate tax and obviously a lot more than I was previously paying because of not making pension contributions. My question is this: is my only option to start a private pension and make payments which can take my taxable income back down below the higher rate tax threshold or do I have other options? Cheers for any advice.
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