Registered Pensions
 
2011/12
2010/11
© Copyright 23rd March 2011, subject to final legislation. For information only. Always seek professional advice before acting.
Lifetime allowance* £1,800,000 £1,800,000
Annual allowance £50,000** £255,000
Maximum relievable personal contribution 100% of relevant UK earnings or
£3,600 if greater
Maximum pension commencement lump sum* 25% of pension benefit value
Lifetime allowance charge 55% if excess is drawn as cash
  25% if excess is drawn as income
Annual allowance charge on excess 20%-50% 40%

 

* Subject to transitional protection for excess amount.

** Eligible members of registered pension schemes may carry forward unused annual allowance of up to £50,000 a year for 3 tax years from 2008/09.