SAYE maturation and too much for a single ISA. Fixes?

[CoffeeGuy]

Hi everyone,

As per title my SAYE matures in 2024 and the value will be circa 25K (thats assuming zero growth (and no decline)).

I realise I can put 20K into ISA snd then pull it out into my bank. The other 5K - Can I put it straight into pension scheme? Is that doable or is there a better way to do it?

[Mr Pointy]

You can contribute as much as you earn up to a maximum of £40k a year into a DC pension so assuming you haven't paid in more than £35k & your earning as at least £40k then yes you can pay it into a pension plan. This is assuming you haven't already taken any of the non-tax free lump sum from a pension though.

[chrisdk]

CoffeeGuy said:

Hi everyone,

As per title my SAYE matures in 2024 and the value will be circa 25K (thats assuming zero growth (and no decline)).

I realise I can put 20K into ISA snd then pull it out into my bank. The other 5K - Can I put it straight into pension scheme? Is that doable or is there a better way to do it?

Playing devil’s advocate - why would you want to do this ? I’m expecting the CGT on the £5k to be minimal so wouldn’t you be better placing it into an investment account for twelve months and then bed & isa anything across once you get the 2025/26 ISA allowance ?

Not sure I see the benefit of locking up post-tax earnings (which is what you SAYE is) into a pension wrapper (losing easy access) when you can replicate the investment profile in an ISA ?