Registered Pensions

2016/172015/16
Lifetime allowance£1,000,000£1,250,000
Annual allowance£40,000*£80,000
Annual allowance charge on excess20%-45%20%-45%
* Subject to 50% taper down to £10,000 if threshold income over £110,000 and adjusted income over £150,000.
Maximum pension commencement lump sum25% of pension benefit value
Lifetime allowance chargeif excess drawn as cash: 55%
if excess drawn as income: 25%
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