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Pensions

Pensions

  2019/20
£
2018/19
£
Lifetime allowance 1,055,000 1,030,000
Lifetime allowance charge (Lump sum) 55% (Lump sum) 55%
  (Pension) 25% (Pension) 25%
Annual allowance* 40,000 40,000
Money purchase annual allowance 4,000 4,000
Annual allowance charge marginal rate marginal rate
Maximum relievable personal contribution 100% of relevant earnings 100% of relevant earnings
  £3,600 if greater £3,600 if greater
Maximum tax free cash 25% of pension benefit value 25% of pension benefit value
*Can be reduced when earnings in excess of £110,000.

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