Pension Schemes rates for the tax years 2006-07 to 2009-10 are available on the National Archives website.
Find Pension Schemes rates for previous tax years on the National Archives website
| Tax Year | Amount (£) |
|---|---|
| 2010-11 | £1,800,000 |
| 2011-12 | £1,800,000 |
| 2012-13 | £1,500,000 |
There is no limit on the amount that an individual can contribute to a registered pension scheme. If you are a UK resident aged under 75 you may receive tax relief on your contributions to a registered pension scheme. Tax relief is limited to relief on contributions up to the higher of
Any amount of contributions paid over the annual allowance will be liable to the annual allowance charge.
| Tax Year | Amount (£) |
|---|---|
| 2010-11 | £255,000 |
| 2011-12 | £50,000 |
| 2012-13 | £50,000 |
There are a number of special tax charges that apply to special payments made from registered pension schemes. These are listed below. The normal Income Tax rates apply to ordinary pensions payments made from pension schemes.
| Charges | Rates |
|---|---|
| Lifetime allowance charge | 55% - if the amount over the lifetime allowance is paid as a lump
sum 25% - if the amount over the lifetime allowance is not taken as a lump sum |
| Annual allowance charge | Years to 2010-11 40% |
| Annual allowance charge | From 2011-12 marginal rate of Income Tax |
| Unauthorised payments charge | 40% |
| Unauthorised payments surcharge | 15% |
| Short service refund lump sum charge | 20% on first £20,000, 50% on amount over £20,000 |
| Special lump sum death benefits charge for deaths before 6 April 2011 | 35% |
| Special lump sum death benefits charge for deaths on or after 6 April 2011 | 55% |
| Authorised surplus payments charge | 35% |
| Serious ill-health lump sum charge | 55% |
| Scheme sanction charge | 15% - 40% |
