How your pension payments add up
See who's saving towards your future
Its the part of your pay your pension payments are based on. It can include all of your pay, including bonuses and overtime. Or it can just be part of your pay. Ask your employer for you pensionable salary figure.
Check with your employer. Your employer might match the payments you make (up to a certain amount). So check with your employer to see what’s on offer. That way, you are less likely to miss out.
We have assumed your payments to your pension are entitled to basic rate tax relief. This is currently 20% (2023/2024 tax year). If you pay tax at more than the basic rate, you may be able to claim further tax relief on the payments you make from HM Revenue & Customs. No allowances have been made for Scottish & Welsh rate taxpayers.
An annual allowance applies to the total amount paid into all of your pensions in each year. If payments exceed the annual allowance, a tax charge will be payable on the excess. Ask us for details.
The figures shown are provided for indicative purposes only, and are not guaranteed. Actual payments, and any tax relief, will depend on HMRC rules and your personal circumstances, both of which may change.