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10 August 2012

I contribute to a company self sacrifice scheme where my contributions are matched by my employer. I am allowed to contribute only 9% of my salary.

I recently increased my contributions over and above this amount (combined £1000 approx between myself and employer) by an extra £500 making £1500 in total. I am a higher rate tax payer and I have been told that what I am doing is not tax efficient and should stop the EXTRA contributions and invest the money elsewhere. Is this correct? Alan

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