Private pension contributions tax relief

Private pension contributions tax relief

Under current rules, you can claim tax relief for your private pension contributions within certain limitations.

The current annual allowance for tax relief on pension contributions is £40,000. You

The pension savings annual allowance

The pension savings annual allowance

The pension savings annual allowance for tax relief on pensions has been fixed at £40,000 since 6 April 2014. The annual allowance is further reduced for high earners. Since 6 April 2020, the tapered

Tax when you get your pension

Tax when you get your pension

There are special rules which allow individuals who have set up private pension scheme(s) to benefit from significant tax reliefs when saving for their retirement. There is no overall limit to the

Pensions triple lock to be reinstated

Pensions triple lock to be reinstated

The triple lock guarantee on pensions that was suspended for the current 2022-23 tax year is to be restored from April 2023. In September 2021, the government announced that its triple lock guarantee

Changes in State Pension age

Changes in State Pension age

The State Pension age is currently 66 and two further increases are set out in legislation: a gradual rise to 67 for those born on or after April 1960; and a gradual rise to 68 between 2044 and 2046

Auto enrolment for care workers

Auto enrolment for care workers

Automatic enrolment for workplace pensions has helped many employees make provision for their retirement, with employers and government also contributing to make a larger pension pot.

The law states

Pension triple-lock abandoned for one year

Pension triple-lock abandoned for one year

The government has confirmed that its triple-lock guarantee on pensions is to be abandoned for one year. The guarantee was first introduced in 2010 and has remained in place until now. This guarantee

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