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Managing the annual allowance

Pensions are a very tax efficient way of saving for retirement. The Collective Retirement Account (CRA) allows clients to make lump sum and regular contributions. It is also able to receive contributions from a client’s employer or another third party.

Many people want to be able to save as much as they can into their pension. However, there are limits to how much you can save, and understanding the technicalities of the Annual Allowance is key.

Annual Allowance calculator

Use our calculator to calculate the maximum gross contribution your client can make before the next tax year, using carry forward (if available) and taking into account taper relief, without triggering an Annual Allowance charge.

Note: Please open this calculator using Chrome.


Gathering the right information for our Annual Allowance calculator

The links below provide template letters to request the information you will require to find out your client's unused Annual Allowance entitlement, depending on the type of scheme they hold. Our Annual Allowance calculator will then calculate the total available funding for your client so that you can maximise the funding opportunities available. 


Case studies

These useful case studies show you different ways clients can take advantage of the unmissable funding opportunities this tax year presents.


Pension input period (PIP) changes

Since the start of the 2016/17 tax year, pension input periods for all registered pensions schemes now run on a tax year basis. There is no scope to terminate an input period early in order to advance the Annual Allowance for the following tax year. However, the rules applying to the transitional changes to input periods that were introduced from July 2015 will still be important where carry forward of unused Annual Allowances is being considered.

Need more information? Please contact your consultant or call our technical team on 02380 726 010 (between 8.00am and 5.00pm Monday – Friday).

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