Shall I pay lump sum into my work pension before leaving?

[Topayornottopay22]

I'm about to leave my job and don't have another one going to.

Thinking of paying lump sum (c. £10k) into my work pension before leaving so that I can benefit from the 20% tax relief.

Am I right in thinking that although I may be able to pay into the pension fund after leaving, that I may not get the 20% tax relief (for payment greater than £2880) for any payment into the fund after I leave my job (I seem to think you only get the relief if you are paying income tax).

I'm in my 50s so quite keen to make the most of all pension allowances/benefits and wouldn't want to miss the opportunity after I leave my job.

No you can benefit from tax relief as long as you have taxable earnings that tax year (and also if you have none you can contribute up to £3600 per annum)

Aah, ok. So the allowance runs for the tax year and as long as I pay in the money during the current tax year I’d get the relief?

Just to be sure then - there’s no advantage in paying in the money before I leave provided I pay in before the end of the current tax year? (Presuming that I could pay into the work place pension before I leave but only into a private pension after I leave)

Will your employer pay in any extra if you do? My employer pays 10% of any additional contributions I make. If yours does that then it’s worth paying into the work one.