Contributions guide
This interactive guide can be used to help determine how much you can contribute to a personal pension without exceeding your personal contribution limit and the annual allowance. If you have any questions please call our help desk on 0800 138 2121.
Important notes:
This calculator should not be viewed as advice, and should be viewed as a guide only. The calculations are based on our understanding of HMRC rules at this time, and therefore may change in the future. If you are unsure of how much you can contribute or how much you have contributed you should consider seeking professional advice.
Annual allowances (£235,000 for the 2008/09 tax year) are based on the Pension Input Periods for all pensions in which you invest falling inline with the tax year (6th April to following 5th April). For information on Pension Input Periods please contact our helpdesk on 0800 138 2121.
Final Salary Pensions – If you have a final salary pension it’s important to consider the benefits accrued under this scheme when entering the contribution amounts and therefore this calculator may not be suitable. For more information please contact our helpdesk on 0800 138 2121.
Final Years - If you wish to contribute more than the annual allowance in the final two years before retirement and receive tax relief you may be able to do so. Please contact our pensions helpdesk on 0800 138 2121 for further details.
Lifetime Allowance - when contributing to a pension you should be aware of the lifetime allowance. For the 2008/09 tax year the standard lifetime allowance will be £1.65 million. If the total value of your pension(s) is near or over this amount, you should consider seeking advice.
Enhanced Protection – If the total value of all your pensions could exceed the lifetime allowance, either now or in the future, then you should consider taking advice before contributing to any pension.