Sai Lo

I have a defined benefit workplace pension and I would like to contribute to SIPP for tax relief. I understand the gross amount that I could enjoy tax relief is capped by my relevant earnings or the annual allowance of £60,000, whichever is lower. In my case my earning is lower than £60,000. So the amount that I can put into SIPP should be my earning less my contribution to workplace pension. Because my workplace pension is "defined benefit", I get from the provider the pension input (which is 16 times the annual increase of my pension) and the calculation is: Amount put into SIPP = relevant earning - pension input Is that correct? My further question is, if I can separately buy Early Pension Age (EPA) so that I can retire one year or two years before the pension age, will the above be affected? The EPA allow me to retire earlier but does not increase my pension, so the pension input should be the same.