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Pensions
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Pensions
|
Annual allowance |
2021/22 |
2020/21 |
2019/20 |
|
Member contribution allowance |
3,600 |
3,600 |
3,600 |
|
|
40,000 |
40,000 |
40,000 |
|
Threshold income limit |
200,000 |
200,000 |
200,000 |
|
Adjusted income limit |
240,000 |
240,000 |
240,000 |
|
Minimum Tapered allowance |
4,000 |
10,000 |
10,000 |
|
|
|
|
|
|
Other allowance |
2021/22 |
2020/21 |
2019/20 |
|
Standard lifetime allowance |
1,078,900 |
1,073,100 |
1,055,000 |
|
Money purchase annual allowance |
4000 |
4000 |
4000 |
|
Lump sum on retirement tax-free allowance |
25% |
25% |
25% |
|
|
|
|
|
|
Tax charges on payments above the allowance |
2021/22 |
2020/21 |
2019/20 |
|
Lifetime allowance – if the amount over the allowance is paid as a lump sum |
55% |
55% |
55% |
|
Lifetime allowance – if the amount over the allowance is not paid as a lump sum |
25% |
25% |
25% |
|
Annual allowance |
Marginal rate |
Marginal rate |
Marginal rate |