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Home Resource Centre Tax Tables Pensions

Tax Tables

Pensions

 

2020/21
£

2019/20
£

2018/19
£

Lifetime allowance

1,073,000

1,055,000

1,030,000

Lifetime allowance charge

(Lump sum) 55%

(Lump sum) 55%

(Lump sum) 55%

 

(Pension) 25%

(Pension) 25%

(Pension) 25%

Annual allowance*

40,000

40,000

40,000

Minimum Tapered allowance

4,000

10,000

10,000

Money purchase annual allowance

4,000

4,000

4,000

Annual allowance charge

marginal rate

marginal rate

marginal rate

Maximum relievable personal contribution

100% of relevant earnings

100% of relevant earnings

100% of relevant earnings

 

£3,600 if greater

£3,600 if greater

£3,600 if greater

Maximum tax free cash

25% of pension benefit value

25% of pension benefit value

25% of pension benefit value

*Can be reduced when earnings in excess of 'threshold' incomes of £200,000 and 'adjusted' incomes of £240,000.


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