Pensions
| Registered Pensions | 2024/25 | 2023/24 |
|---|---|---|
| Annual Allowance (AA)* | £60,000 | £60,000 |
Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600.
*Usually tapered down, to a minimum of £10,000, when adjusted income exceeds £260,000.
The maximum tax-free pension lump sum is £268,275, unless a higher amount is “protected”.
| State pension (per week) | 2024/25 | 2023/24 |
|---|---|---|
| Old state pension | £169.50 | £156.20 |
| New state pension | 221.20 | 203.85 |