Pension question - lots of pots. Still paying in.
Pension question - lots of pots. Still paying in.
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Discussion

Pit Pony

Original Poster:

11,185 posts

150 months

Thursday 22nd January
quotequote all
Heres the scenario.

I want to max out my ISA allowance.

I have a number of DC pots ranging from £7k to £100 k from various previous employment

I salary sacrifice a whopping 55% of my salary into my current Company DC scheme (company puts in 12%)

I know I should consolidate the number of pots, but what I want to do today is take 25% out of one of the pots to use to top up my ISA before April. And maybe later in April add to my ISA again.

Can I do this without impacting how much I pay into my current DC scheme?

dingg

4,535 posts

248 months

Thursday 22nd January
quotequote all
In short

Yes you can

NortonES2

630 posts

77 months

Thursday 22nd January
quotequote all
In short would be

Yes

Pit Pony

Original Poster:

11,185 posts

150 months

Thursday 22nd January
quotequote all
Thank you.


knk

1,338 posts

300 months

Thursday 22nd January
quotequote all
Be careful not to trigger a MPAA limit to future contributions.

Pit Pony

Original Poster:

11,185 posts

150 months

Thursday 22nd January
quotequote all
knk said:
Be careful not to trigger a MPAA limit to future contributions.
Does that apply if I'm only taking the tax free sum out of a pot that is dormant? ( as in i last paid into it in 2000)

I'm paying £35k into my current DC scheme.