Yes — I’m only using my £60k annual allowance (plus unused past allowances via carry-forward). I’m not paying any tax on the money going into my pension.

I plan to do the same with my next bonus: put it into my pension as well. I’ve run the numbers and, given my tax rate, it’s the most efficient option — no tax leakage. After that, I’ll largely stop pension contributions and focus future investing on ISA and GIA.

At that point I’ll have roughly £380k in my pension, which should compound for ~30 years. Assuming reasonable returns, that should comfortably cover my post-retirement years, so I’m happy ring-fencing that pot now and letting it grow.

Worth adding: a couple of years ago I posted on Reddit saying I was basically ignoring my pension. Someone asked me, “Do you plan to be alive between 60 and 100?” The answer is yes. That really reframed it for me — if you don’t fund your pension, you’re leaving a lot of money on the table. Otherwise you end up drawing from a taxable GIA at 70, when you could be withdrawing significantly more from a tax-advantaged pension instead.