Autus Newsletter » Spring Statement 2018
Registered Pensions
Registered Pensions |
17/18 |
18/19 |
Lifetime allowance |
£1,000,000 |
£1,030,000 |
Money purchase annual allowance |
£4,000 |
£4,000 |
Annual allowance [4] |
£40,000 |
£40,000 |
Annual allowance charge on excess |
Applicable tax rate on earnings |
|
Lifetime allowance charge if excess is drawn |
As cash 55%; as income 25% |
|
Max. pension commencement lump sum |
25% of pension benefit value |
|
[4] Subject to 50% taper down to £10,000 if threshold income over £110,000 and adjusted income over £150,000