|
| Pensions |
2008/09 |
2007/08 |
| Lifetime allowance* |
£1,650,000 |
£1,600,000 |
| Annual allowance |
£235,000 |
£225,000 |
| Lifetime allowance charge |
55% if excess drawn as cash |
|
25% if excess drawn as income |
Annual allowance charge 40% of excess drawn
| Maximum pension commencement lump sum* |
25% of pension benefit value |
| Maximum relievable personal contribution |
100% relevant UK earning or £3,600 if greater |
| *subject to transitional protection for excess amount |
|
| State Pensions |
2008/09 |
2007/08 |
| Single Person: |
£90.70 |
£87.30 |
| Dependant's addition |
£54.35 |
£52.30 |
|
|
|