Lower rate tax calc, in run-up to retirement?

[anonymous-user]

Hi

I plan on retiring in 3 years or so, unless they shuffle me off sooner!

Currently have a couple of old DB pensions from jobs in the 20th century, which just kicked in, when I hit 60 earlier this year.
Current salary north of higher tax bracket

My current scheme, for quite a few years, has been DC

As a trial I want to reduce my incoming to 3k a month take home, as a retirement trial run. Which we’ll be comfortable on. The better half has a few pensions.

I can contribute more to company DC pension (already pay in a fair bit, they put in 10% too) which can be changed monthly.

My question is, what is the Gross figure that will give 3K a month, after NI etc

I can reduce my salary+ DB pensions to that exact figure, to bow out of paying 40%

Save for my tomorrow.. Take our 25% tax free etc when I retire.

This pension contribution should come in just under 40k, I’m off the lifetime max

I guess the DBs would tax 40% at source still & i’ll claim it back?

[Panamax]

I think you're asking a question that can't be answered. That's because you have income from a number of different PAYE sources and HMRC will be applying different tax codes to each. To get an answer you'd need to lay everything out in full detail, with figures.

And what does it matter anyway, because the thing you're talking about isn't income, it's expenditure.

[Carbon Sasquatch]

You can always save any additional income - you don't need to cut income to figure out whether you can live at a lower expense rate....

James6112 said:

My question is, what is the Gross figure that will give 3K a month, after NI etc

As above - it gets complicated with multiple sources as you may pay more tax intra year & then true up after your tax return.
However, the short answer is that if it were a single source - about 48k
https://www.thesalarycalculator.co.uk/salary.php

James6112 said:

I can reduce my salary+ DB pensions to that exact figure, to bow out of paying 40%

That would very much depend on what your salary is.....

[Mazinbrum]

Just open a Monzo account and transfer 3k a month into it and use it for all your spending, it automatically categorises expenditure so you can see where your money is going, worked for me prior to early retirement.