Guide to pension tax relief
Every year the government gives billions back to investors as tax relief on their pension contributions. If you’re a UK resident under 75 you can get tax relief, even if you don’t pay tax.
Our straightforward guide gives a run-down on:
- How pension tax relief currently works
- How much you can contribute to maximise tax relief
- How some high earners could receive up to £72,000 in tax relief
- Restrictions affecting higher earners
This isn’t personal advice, consider taking advice if you’re not sure. Once money is paid into a pension you usually need to be at least 55 (rising to 57 in 2028) before you can take it out again. Pension and tax rules can change, and any benefits will depend on your circumstances.