Autus Newsletter » Spring Statement 2019
Registered Pensions
2019/20 |
2018/19 |
|
Lifetime allowance |
£1,055,000 |
£1,030,000 |
Money purchase annual allowance |
£4,000 |
£4,000 |
Annual allowance4 |
£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 Reduced by £1 for every £2 of adjusted income over £150,000 to a minimum of £10,000, subject to threshold income being over £110,000