Welcome to the DAD.Info forum: Important Information – open to read:
Our forum aims to provide support and guidance where it can, however we may not always have the answer. The forum is not moderated 24 hours a day, so If you – or someone you know – are being harmed or in immediate danger of being harmed, call the police on 999.
Alternatively, if you are in crisis, please call Samaritans on 116 123.
If you are worried about you or someone you know is at risk of harm, please click here: How we can help
My ex- raised a variation on the grounds of diversion of income in regard to my additional pension contributions, however the CMS deemed them to be 'not unreasonable'. They also explained that they have a table of 'maximum reasonable pension contributions' to use for this kind of assessment, and that the NRP's age is a factor in this (i.e. higher contributions allowed for older NRPs). I don't know if the 'maximum reasonable amount' is a flat amount or a % of gross income however.
Does anyone know the thresholds in this table ? I don't suppose this information is in the public domain ...
If you dowload the FOI FSA Pensions guidance document, the table is on there...
Also provides a bit of a summary as to how the CMS look at pension contributions and hopefully should help you to bring things into alignment. Remember it is at your caseworkers discretion (although they are guided by this document) and how you explain why you are making higher pension contributions above the 12% reasonable level is important... Eg based on your age, maybe if you've seen a financial advisor, maybe if you haven't paid into a pension historically but are now catching up and due to age require higher contributions, any ill health factors that might prevent you contributing for the long term etc...
https://www.whatdotheyknow.com/request/cms_maximum_pension_allowance_ca
What's the "FOI FSA Pensions guidance document" please???
If you dowload the FOI FSA Pensions guidance document, the table is on there...
Also provides a bit of a summary as to how the CMS look at pension contributions and hopefully should help you to bring things into alignment. Remember it is at your caseworkers discretion (although they are guided by this document) and how you explain why you are making higher pension contributions above the 12% reasonable level is important... Eg based on your age, maybe if you've seen a financial advisor, maybe if you haven't paid into a pension historically but are now catching up and due to age require higher contributions, any ill health factors that might prevent you contributing for the long term etc...
https://www.whatdotheyknow.com/request/cms_maximum_pension_allowance_ca
That is very useful information - thanks !
If I understand the table correctly, a reasonable level of pension contribution for someone my age (57) can be up to 45 to 70 % of my gross income (*). That is much higher than I would have thought and seems generous.
I am actually planning on contributing around 34% this financial year, so it seems well within what the CMS would call a reasonable amount.
(*) where gross income is reduced as a result of the pension contributions
Correction - the 34% is the level of my additional pension contributions I am planning to make. Including my 'regular' contributions the total comes to about 56% - though still within the allowable level according to the table.
Hi
That sounds sensible. Whilst I think on initial review the allowances seem generous, if we factor in what's happened to private pensions over the past 10 years eg falling annuity rates, changes to pension drawdown, the government encouraging auto enrolment and mandatory contributions, we now need bigger pots to provide for retirement and therefore I would say that table which was produced before all the changes is probably no longer generous..
Welcome to the DAD.info forum.
We don’t like to set ‘rules’, but to make sure that you and the other dads are kept safe, we have some requests. When engaging with the forum, please be aware of the following:
- The forum is not moderated 24 hours per day.
- Many of the moderators do so on a voluntary basis. Whilst they may be able to provide some guidance, advice or support, they may not be able to deal with specifics.
- We are not an emergency crisis service so if you or someone else is in immediate danger, please call emergency services.
- If you are concerned about the safety of a child, please click here to find the support you can get for them (link to new page)
- If you are in crisis, please call Samaritans on 116 123. They are open 24 hours a day, 7 days per week.
We hope you find this forum a supportive environment and thank you for joining us.