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This handy little card is your go-to resource for all the major tax rates in place for the upcoming year.
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Registered Pensions
2026/27 | 2025/26 | |
Lifetime allowance limit* | None | None |
Money purchase annual allowance | £10,000 | £10,000 |
Annual allowance limit** | £60,000 | £60,000 |
Minimum age for accessing benefits | 55 | 55 |
Maximum tax-free pension lump sum | 25% of pension fund value | |
* The lifetime allowance ended in April 2024 and was replaced by new allowances, including an overseas transfer allowance (OTA) for pensions transferred abroad.
** Tapered at a rate of 50% of excess income down to £10,000 if threshold income over £200,000 and adjusted income over £260,000. Restrictions can apply based on net-relevant earnings.
Subject to certain conditions, the unused amount of the annual allowance can be carried forward up to three years.