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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

2017/18 2016/17
Lifetime allowance (LA) £1.00m £1.00m

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

*The AA is usually reduced by £1 for every £2 by which relevant income exceeds £150,000, down to a minimum AA of £10,000. The AA can be reduced to £4,000, where certain pension drawings have been made.

State pension (per week)

2017/18 2016/17
Old state pension – Single person £122.30 £119.30
Old state pension – Married couple 195.60 190.80
New state pension† 159.55 155.65

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