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    Hi

    I have two questions concerning the calculation of Household Income:

    1. Personal Pension contributions. I understand these are deducted in the calculation of Household Income. Is the deduction the NET or GROSS contribution. i.e. when you pay into a personal scheme you pay over £80 net and £20 is reclaimed by the Pension Scheme from HMRC - £100 Gross.

    2. When calculating Household income is any deduction made for having 2 children at University.

    Many thanks

    John
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    (Original post by Ryecroft John)
    Hi

    I have two questions concerning the calculation of Household Income:

    1. Personal Pension contributions. I understand these are deducted in the calculation of Household Income. Is the deduction the NET or GROSS contribution. i.e. when you pay into a personal scheme you pay over £80 net and £20 is reclaimed by the Pension Scheme from HMRC - £100 Gross.

    2. When calculating Household income is any deduction made for having 2 children at University.

    Many thanks

    John

    Hi John,

    You should put the gross figure and send a copy of your Pension statement and covering letter with your name and customer reference number, to show these deductions.

    When there is more than one student from the same household in higher education we will deduct £1130 for each additional student from the total amount of household income declared - this is known as a 'Disregard'.

    We will also include any child dependents not in further or higher education.

    Thanks Rona
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    (Original post by Ryecroft John)
    Hi

    I have two questions concerning the calculation of Household Income:

    1. Personal Pension contributions. I understand these are deducted in the calculation of Household Income. Is the deduction the NET or GROSS contribution. i.e. when you pay into a personal scheme you pay over £80 net and £20 is reclaimed by the Pension Scheme from HMRC - £100 Gross.

    2. When calculating Household income is any deduction made for having 2 children at University.

    Many thanks

    John
    Hi John,


    In answer to your questions, Student Finance would deduct Private Pension contributions from the household income and we would use the NET figure .
    When there is more than one student from the same household in higher education we will deduct £1130 for each additional student from the total amount of household income declared - this is known as a 'Disregard'. We will also include any child dependants not in further or higher education.

    Thanks

    Louise
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    Thanks Louise & Rona

    For clarification, as you both appear to say different things, is it the NET or the GROSS pensions contribution that is a deduction from Household Income?
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    (Original post by Ryecroft John)
    Thanks Louise & Rona

    For clarification, as you both appear to say different things, is it the NET or the GROSS pensions contribution that is a deduction from Household Income?


    Hi John,

    Apologies for any confusion.

    I can confirm that it is the gross figure (figure after tax relief is added) we require when providing your private pension contribution details. We normally request evidence of your private pension contributions, a copy of your private pension statement can be used for that.

    I hope this information helps.

    Kind regards,

    John.
 
 
 

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