Registered Pensions
| 2007/08 | 2006/07 | |
| Lifetime allowance* | £1,600,000 | £1,500,000 |
| Annual allowance | £225,000 | £215,000 |
| Lifetime allowance charge | 55% if excess is
drawn as cash 25% if excess is drawn as income |
|
| Annual allowance charge | 40% of excess | |
| Maximum pension commencement lump sum* | 25% of pension benefit value | |
| Maximum relievable personal contribution | 100% of relevant
UK earnings or £3,600 if greater |
|
* Subject to transitional protection for excess amount |
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© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.