| 2010/11 | 2009/10 | |
| Lifetime allowance* | £1,800,000 | £1,750,000 |
| Annual allowance | £255,000 | £245,000 |
| Special annual allowance where relevant income is £130,000 or more | ||
| Minimum | £20,000 | £20,000 |
| Maximum | £30,000 | £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 if excess drawn | as cash | as income |
| 55% | 25% | |
| Annual allowance charge on excess | 40% | |
- *Subject to transitional protection for excess amount
- The Special Annual Allowance charge (anti-forestalling)
2009/10 & 2010/11
Tax relief will be restricted when irregular or one off contributions exceed £20,000 and an individual's relevant income exceeds £130,000. - The High Income Excess Relief charge from 2011/12
Tax relief will be restricted so that a high earning individual earning £180,000 or more will only receive tax relief at 20% on pensions savings (which include benefits received in defined benefit schemes). A taper will apply to restrict relief on contributions falling into the £150,000 to £180,000 band.
