Guide: Pension annual allowance
What is the pension annual allowance and how to avoid breaching it.
Pensions come with fantastic tax benefits and are the foundation of retirement savings for very good reasons. But there is no getting away from the fact that they come with many rules and regulations, which can be complex and change frequently. In this short guide, we look at the pension annual allowance, which, while straightforward for many, has caused unnecessary or surprise tax bills for others in recent years.
In this guide, find out about:
- How the annual allowance works
- The tapered annual allowance
- What to do if you’re close to breaching or have breached the annual allowance
- How to make the most of your allowances