|Annual Allowance (Contribution Limits)|
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:
* 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.
Jonathan is the director and joint owner of the Pension Drawdown Company.