Pension Saving StatementsOctober 3, 2017
The annual allowance (sometimes referred to as AA) is set by HMRC and is the maximum your pension can increase by in a tax year before tax charges are imposed. The annual allowance in 2016/17 was £40,000. It will remain at £40,000 for 2017/18.
You will be sent a pensions savings statement each year if your pension savings in the Shropshire County Pension Fund exceeds the annual allowance limit for that year. Pension Saving Statements have recently been issued for the 2016/17 tax year.
Further information can be found on the Annual Allowance webpage.This entry was posted in Tax Limits. Bookmark the permalink. ← Pensions Team Office Hours:- 9th October-13th October 2017 Investment Strategy Statement- An Update →