What is the pension annual allowance?

For 2024/25, you can contribute up to £60,000 to pension schemes tax-free (or 100% of earnings if lower). This includes both employer and employee contributions.

How does the tapered annual allowance work?

For threshold income above £200,000 and adjusted income above £260,000, the allowance reduces by £1 for every £2 above £260,000, down to a minimum of £10,000.

What is carry-forward?

You can carry forward unused allowance from the previous 3 tax years, potentially contributing up to £200,000+ in a single year if you were a pension scheme member.

UK Pension Annual Allowance Calculator 2024/25

Check pension annual allowance (£60,000 for 2024/25), tapered allowance for high earners (£10,000 minimum), carry-forward rules, and Money Purchase Annual Allowance (£10,000).

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Frequently Asked Questions

What is the pension annual allowance?

How does the tapered annual allowance work?

What is carry-forward?