(FA 2004, s. 214ff. and 227ff.)

(In-Depth: ¶386-000 and ¶384-000)

Since A-day (6 April 2006), there have been no limits on the amount of pension savings an individual can have, but there are limits on the amount of tax relief that is available. These are the lifetime allowance and the annual allowance.

Year

Annual allowance limit(1)(2)(3)

£

Annual allowance income limit(4)

£

Threshold Income limit(4)

£

Money purchase annual allowance(5)

£

Lifetime allowance(6)(8)(9)(10)

£

Lifetime allowance charge(7)

2020−21

40,000

240,000

200,000

4,000

1,073,100

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