Registered Pensions

2015/162014/15
Lifetime allowance£1,250,000£1,250,000
Annual allowance£40,000£40,000
Money purchase annual allowance£10,000N/A
Annual allowance charge on excess20%-45%20%-45%
Maximum pension commencement lump sum25% of pension benefit value
Lifetime allowance charge if excess drawnas cash 55% / income 25%
Maximum relievable personal contributions capped by the annual allowance and 100% of relevant UK earnings or £3,600 if greater.
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