Guide to pension tax relief
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 isn't personal advice, but it 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
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This isn’t personal advice, consider taking advice if you’re not sure. You can’t normally access money in a pension until age 55 (57 from 2028) when up to 25% is usually tax free and the rest taxable. Pension and tax rules can change and any benefits will depend on your circumstances.
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. You can’t normally access money in a pension until age 55 (57 from 2028) when up to 25% is usually tax free and the rest taxable. Pension and tax rules can change and any benefits will depend on your circumstances.