Annual & Lifetime Allowance

Annual Allowance

The Annual Allowance is the yearly amount of tax efficient “pension savings” you can build up in registered pension schemes before a tax change arises. In terms of PensionBuilderPlus “pension savings” are the contributions paid both by the employer and the employee to the pension plan.

To find out more information on how this may effect you Click>Annual Allowance April

The Lifetime Allowance

The Lifetime Allowance (LTA) is the total amount of registered pension scheme benefits you can build up over your working life before tax charge arises. The LTA for the 2019/20 tax year is £1,055,000 and it is likely to increase in line with inflation at the end of the current tax year.

To find out more information on how this may effect you Click> Lifetime Allowance

Updated 24/07/2019

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pdfAnnual Allowance 106.26KB Download
pdfThe Lifetime Allowance 83.04KB Download
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