Registered Pensions 2014

Lifetime allowance£1,250,000£1,500,000
Annual allowance£40,000£50,000
Annual allowance charge on excess20%-45%20%-45%
Maximum pension commencement lump sum25% of pension benefit value
Lifetime allowance chargeif excess drawn as cash, 55%
if excess drawn as income, 25%
Maximum relievable personal contribution, capped by the annual allowance and:100% of relevant UK earnings or
£3,600 if greater
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