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In the UK, a pension allowance refers to the maximum amount of money you can contribute to your pension schemes each year while still receiving tax relief. This includes contributions to all types of pensions such as personal, workplace, and stakeholder pensions.
Popular tags: annual pension allowance, what is a pension allowance, pension allowance, pension annual allowance 2023/24, carry-forward allowance, personal pensions, pension contributions, yearly pension allowance, pension scheme annual allowance, pension planning, national employment savings trust
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Note: This page is for information purposes only and should not be considered as financial advice. Always consult an Independent Financial Adviser for personalised financial advice tailored to your individual circumstances.