Registered Pensions

This data relates to Personal Pensions. If you require specific, company pension information you should seek advice.

  2015/2016 2016/17 2017/18 2018/19
Lifetime Allowance £1,250,000 £1,000,000 £1,000,000 £1,030,000
Annual Allowance £40,000 £40,000* £40,000*  £40,000*
Annual Allowance Charge on Excess 20%-45% 20%-45% 20%-45%  20%-45% 
Max. Relievable Personal Contributions,
capped by the annual allowance and:
100% of relevant UK
earnings or £3,600 if greater
Max. Pension Commencement Lump Sum 25% of pension benefit value 25% of pension benefit value 25% of pension benefit value  25% of pension benefit value
Lifetime Allowance Charge if excess drawn: as lump sum: 55% as lump sum: 55% as lump sum: 55% as lump sum: 55% 
as pension: 25% as pension: 25% as pension: 25%  as pension: 25%
Money Purchase Annual Allowance N/A N/A £10,000 £4,000 

* Unused allowances from the previous three tax years (limited by the annual allowance) may be carried forward to increase the 2017/18 current year allowance. From 6th April 2016 onwards, there will be a reduction in the annual allowance by £1 for every £2 of adjusted income over £150,000 up to an upper limit of £210,000.

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