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personal-pensions

Personal Pensions & Retirement Annuity Premiums

Planning for your future or setting pension plans for your business and employees can be complex – that’s why Franklin Underwood provide a comprehensive service to assist you with Personal Pensions and Retirement Annuity Premiums.

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.