Pensions
Registered Pensions
| 2018/19 | 2017/18 | |
|---|---|---|
| Lifetime Allowance (LA) | £1,030,000 | £1,000,000 |
| Annual Allowance (AA)* | 40,000 | 40,000 |
Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600.
*The AA is usually reduced by £1 for every £2 by which relevant income exceeds £150,000, down to a minimum AA of £10,000. The AA can be reduced to £4,000, where certain pension drawings have been made.
State pension (per week)
| 2018/19 | 2017/18 | |
|---|---|---|
| Old state pension – Single person | £125.95 | £122.30 |
| Old state pension – Married couple | 201.45 | 195.60 |
| New state pension† | 164.35 | 159.55 |
†applies to those reaching state retirement age after 5 April 2016.