Factsheets

Factsheet - The Annual Allowance

HM Revenue and Customs limits the amount of pension savings you can make without having to pay extra tax. This is in addition to any income tax you pay on your pension once it is being paid to you.
 
This factsheet looks at the Annual Allowance which is the amount by which the value of your pension benefits may increase in any one year without you having to pay a tax charge.
 
 Download the Annual Allowance Factsheet (May 2024, PDF, 9 pages, 137kb)