Please click on one of the headings below for more information.
Contributions that qualify for tax relief
Only certain contributions qualify for tax relief in a UK pension scheme.
Annual allowance and carry forward
The annual allowance is a limit on the tax-relievable contributions a member can make in a tax year. Members face a personal tax charge on contributions made in excess of the allowance. Unused annual allowance from the previous three tax years can be carried forward under certain circumstances.
Pension input periods
Pension input periods (PIPs) can be used to pay contributions against different annual allowances over a short period.
In specie contributions
An in specie contribution is where a member or an employer uses an asset rather than cash to pay for a contribution.
Reclaiming tax relief
We claim basic rate tax relief on member contributions but it takes several weeks for HMRC to pay this relief to the SIPP or SSAS
Contribution refunds
Members can receive refunds for tax relievable contributions made over their level of earnings.
Block transfers
Block transfers allow individuals with rights to lump sums higher than 25% under scheme specific protection, or an entitlement to an early retirement age, to retain those rights when transferring to another scheme.
Partial transfers
Partial transfers are allowed, but only for certain funds.
Transfers for members age 50-55
Clarification on the transfer of members taking benefits aged 50-55.
All statements concerning the tax treatment of products and their benefits are based on our understanding of the current law and HM Revenue & Customs (HMRC) practice and are for general guidance only. Whilst every effort has been made to ensure accuracy, no liability can be accepted for any errors or omissions. Levels and bases of, and reliefs from, taxation are subject to change.
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