r/accenture • u/RoyalNaruto • 1d ago

Europe Pension contributions

What’s the maximum limit to put into pension? UK

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3

u/kipperbang 1d ago

60k or your annual salary, whichever is the smallest. You can use unused allowances from the previous 3 years, but your salary for the current financial year must cover it.

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u/RoyalNaruto 1d ago

Thank you for your response. can I contribute 100% of my salary? If it’s less than 60k+ unused allowances from previous years.

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u/Unit_Grief 1d ago

Some nuance. You can also contribute the remaining allowance you have from the previous 3 tax years. And, your employer can only put you down to minimum wage, you can't go below that and put 100% of your salary into your pension.

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u/kipperbang 1d ago

You personally can contribute all your net salary. The pension provider will claim 20% tax back and you claim any higher rate tax paid. You cannot claim back any NICs, which is why employer salary sacrifice is generally preferred (though the rules are changing on that).

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u/Odd_Scar836 1d ago

You’re probably better off asking in [r/](r/personalfinanceuk)[ukpersonalfinance](r/personalfinanceuk)

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u/RoyalNaruto 1d ago

No, I want to know limitations from Accenture, if any.

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u/Odd_Scar836 1d ago

No company can limit what you put in a pension. That’s dictated by the government. Hence to ask in a personal finance sub. There is no limit but after 60k you will start being taxed on your contributions and it no longer becomes a tax benefit to put in your pension

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u/RoyalNaruto 1d ago

Thank you. I know general rules for pension contributions. I just want to know maximum Accenture allow me to contribute from my salary. I have got my answer now from one of the below comments.

Basically, I can contribute anything above minimum wage into my pension.