Registered Pensions
| |
2008/09 |
2007/08 |
| Lifetime allowance* |
£1,650,000 |
£1,600,000 |
| Annual allowance |
£235,000 |
£225,000 |
| Lifetime allowance
charge |
55% if excess is drawn as cash
25% if excess is drawn
as income |
| Annual allowance charge |
40% of excess |
| Maximum pension commencement
lump sum* |
25% of pension benefit value |
| Maximum relievable personal
contribution |
100% of relevant UK earnings or
£3,600
if greater |
|
|
|
|
