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Registered Pensions


  2010/11 2009/10
Lifetime allowance* £1,800,000 £1,750,000
Annual allowance £255,000 £245,000
Special annual allowance applies where relevant income is £130,000 or more minimum £20,000
maximum £30,000
minimum £20,000
maximum £30,000
Special annual allowance charge 20%-30% 20%
Maximum relievable personal contribution 100% of relevant UK earnings or
£3,600 if greater
Maximum pension commencement lump sum* 25% of pension benefit value
Lifetime allowance charge 55% if excess is drawn as cash
25% if excess is drawn as income
Annual allowance charge on excess
 40%
   

* Subject to transitional protection for excess amount

 

© 22 June 2010. For general information only. Subject to the Finance Act 2010. It is recommended you seek competent professional advice before acting.
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The FSA does not regulate taxation advice.

Levels, bases of and reliefs from taxation may be subject to change.