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How much can I pay into a SIPP There is sometimes confusion on the maximum amount that can be paid into any form of pension planning. There is in fact NO financial limit on the amount that can be contributed to a registered pension scheme. However, there is a maximum amount on which an individual can claim tax relief in any tax year. This is set out as either
On top of that there is also a Lifetime Allowance of cumulative funds in pensions which is currently £1,650,000. Alternatively an employer can make an annual contribution of up to £235,000 on behalf of an employee regardless of the employees remuneration.
For expat pensioners living abroad or for those who are thinking about making the move, then a qualifying recognised overseas pension scheme or QROPS can offer even greater flexibility. |
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