Employer/Third party Contributions

Employer Contributions

Your employer may still continue to make pension contributions to the scheme.  These will be treated as a business expense and be relievable.  Tax relief will be granted by the local inspector of taxes, although this is not guaranteed.  Where a contribution is not in correlation with the member’s remuneration package tax relief may be restricted.

Third Party Contributions

A person other than the member or their employer may make contributions to the scheme on the member’s behalf.  This can be a person, corporate body or other legal entity.  For tax purposes the contribution will be regarded as being made by the member.

Pension Input Period

The pension input period is a period not exceeding 12 months over which all pension contributions are measured.  This period need not be the same as a tax year.  The amount of all pension contributions will be tested against the annual allowance applicable at the time of the last contribution in the input period.  The member may have different input periods for different registered pension arrangements.