The High Income Child Benefit Charge is draining your retirement—here’s the ruthless hack to keep the cash and retire wealthier than ever.
The jammiest couples who follow this pension top-up strategy are working parents earning, say, £61,000 each.
If they both do £1,000 in extra pension payments they’ll keep all their Child Benefit – and retire richer. This despite them still having a household income of £120,000 a year.
In contrast, consider a sole earner in London on £80,000 with a full-time child-rearing spouse.
This breadwinner can’t afford to reduce their income by £20,000. Mortgage and energy costs have skyrocketed. And nearly two-fifths of their income is now taxed at the higher-rate, thanks to frozen tax brackets.
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