Tax rates & allowances

Pensions

Registered Pensions 2019/20 2018/19
Lifetime allowance (LA) £1,055,000 £1,030,000
Annual allowance (AA)* 40,000 40,000

Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600.

*Usually tapered (down to a minimum of £10,000) when adjusted income exceeds £150,000.

State pension (per week) 2019/20 2018/19
Old state pension - Single person £129.20 £125.95
Old state pension - Married couple 206.65 201.45
New state pension† 168.60 164.35

†applies to those reaching state retirement age after 5 April 2016.

Tax rates 2019-2020PDF document