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Home Resource Centre Tax Tables Pensions

Tax Tables

Pensions

Annual allowance

2022/23

2021/22

2020/21

Member contribution allowance
(higher of 100% UK taxable earnings or)

£3,600

£3,600

£3,600

Maximim allowance

£40,000

£40,000

£40,000

Threshold income limit

£200,000

£200,000

£200,000

Adjusted income limit

£240,000

£240,000

£240,000

Minimum Tapered allowance

£4,000

£4,000

£4,000

       

Other allowance

2022/23

2021/22

2020/21

Standard lifetime allowance

£1,073,100 £1,073,100 £1,073,100

Money purchase annual allowance

£4,000 £4,000 £4,000

Lump sum on retirement tax-free allowance

25% 25% 25%
       

Tax charges on payments above the allowance

2022/23

2021/22

2020/21

Lifetime allowance - if the amount over the allowance is paid as a lump sum

55%

55% 55%

Lifetime allowance - if the amount over the allowance is not paid as a lump sum

25%

25%

25%

Annual allowance

Marginal rate Marginal rate Marginal rate
       
       
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