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Home Pensions Annual Allowance (Contribution Limits)
Annual Allowance (Contribution Limits) PDF Print E-mail

Individuals can contribute up to 100% of their earnings in any one year, spread across any type and number of schemes or plans. Subject to a maximum annual allowance. This annual allowance is being reduced from 6 April 2011.

Below is a table showing the maximum amounts that will qualify for tax relief in previous and current tax years:

2008/09 £235,000

2009/10 £245,000

2010/11 £255,000

2011/12 £50,000*

2012/13 £50,000*

* HMRC have reintroduced the concept of carrying forward.

For anyone with no income or very low earnings the maximum is £3,600 gross a year.

There is no limit at all in the year in which benefits are taken in full.

 

A pension is a long term investment. The fund value may fluctuate and can go down. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.

Pension Drawdown Compnay pension crystallisation options

Download our comprehensive pension options guide by clicking on the above image. 

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Financial Advisers

Jonathan Walker
jpwalkersmall2Jonathan is the director and joint owner of the Pension Drawdown Company.

Christopher Hill
christopherChristopher is a Chartered Financial Planner, Certified Financial Planner and Fellow of the Personal Finance Society. 

Bob Diamond
bobdiamond2Bob is a Pension Specialist who has been with the company since its incorporation in 1996. Bob has been a financial adviser since 1989.

Andrew Ross
Andrew RossAndrew is a diplomaed financial adviser with a history in banking.

Roger Easterbrook
RogerEasterbrookRoger is a diplomaed financial adviser with a background in Executive Search.

Click here for more team members.

 


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