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This data relates to Personal Pensions. If you require specific, company pension information you should seek advice.
|Annual Allowance Charge on Excess||20%-45%||20%-45%|
|Max. Relievable Personal Contributions, capped by the annual allowance and:||100% of relevant UK earnings or £3,600 if greater|
|Max. Pension Commencement Lump Sum||25% of pension benefit value||25% of pension benefit value|
|Lifetime Allowance Charge if excess drawn:||as lump sum: 55% as pension: 25%||as lump sum: 55% as pension: 25%|
|Money Purchase Annual Allowance||£4,000||£4,000|
* Unused allowances from the previous three tax years (limited by the annual allowance) may be carried forward to increase the 2017 /18 current year allowance. From 6th April 2016 onwards, there will be a reduction in the annual allowance by £1 for every £2 of adjusted income over £150,000 up to an upper limit of£210,000. From 6 April 2020, the threshold income will be over £200,000 and the adjusted income will be over £240,000. From 6 April 2020, the minimum level of which the annual allowance can taper down to will be reduced from £10,000 to £4,000.
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