christianr_
New member
I work in Scotland with English BA and MA loans outstanding, and earnings above ~43.5k pay 42% income, 12% NI, 9% Plan 2, and 6% MA loans. That's a nice 69%, deduction before any kind of salary sac into pension. From what I read, pension withdrawal penalty is around 55%. I'm not optimistic about paying off my student loans before they expire, unless I pass six figs of income, which isn't likely (the rates are disgusting). Therefore, would it make sense to indefinitely sacrifice everything into a pension above the ~43.5k number, and use it as kind of an 'emergency' pot that has a ~14% reduced deduction burden? Also, though I don't have kids or earn this much, this could theoretically let me keep access to child tax benefit if I go over 50k p.a., right, and even to tax allowance between 100k and 124k? Thank you for your time, consideration, and opinions.