Unizone
Print
pensions tax 2007/2008
| 'Simplified regime' |
|
| Lifetime allowance* |
£1,600,000 |
| Lifetime allowance charge |
55% if excess is drawn as cash
25% if excess is drawn as income |
| Annual allowance |
£225,000 |
| Annual allowance charge |
40% of excess |
| Max. retrievable personal contribution |
100% of relevant UK earnings or
£3,600 if greater |
| Tax Free Cash |
25% of accumulated fund |
| Pension Income |
Taxable at marginal rate (No National Insurance) |
|