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Starting a pension
How much can I save in a pension?
How much can I save in a pension?

Your simple guide to pension allowances.

Updated over a week ago

In the 23/24 Tax Year, the maximum amount you can contribute to your pension and qualify for tax relief is your annual income, or £60,000 (whichever is lowest). If you’re a high earner, your allowance will be reduced by £1 for every £2 you earn above £260,000 (to a minimum of £10,000).

As stated above, you may be able to use unused allowances from previous tax years. Should your contributions exceed the amount you are allowed each year, there may be tax to pay, so you should speak to an accountant or tax adviser before making any large contributions to make sure you’re not going to incur a tax bill.

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