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:

10,630 posts

142 months

Yesterday (14:22)
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

4,428 posts

240 months

Yesterday (15:27)
quotequote all
In short

Yes you can

NortonES2

512 posts

69 months

Yesterday (15:45)
quotequote all
In short would be

Yes

Pit Pony

Original Poster:

10,630 posts

142 months

Yesterday (18:04)
quotequote all
Thank you.


knk

1,320 posts

292 months

Yesterday (18:05)
quotequote all
Be careful not to trigger a MPAA limit to future contributions.

Pit Pony

Original Poster:

10,630 posts

142 months

Yesterday (18:20)
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.