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Pensions (Occupational Pension Scheme OPS (Contribution by (Employee …
Pensions
Limit Available
Higher of:
£3,600
UK Relevant Earnings (E.I + T.I + FHL)
Annual Allowance
£40,000
Occupational
Pension Scheme OPS
Run by Employer
Contribution by
Employee
(Employee Income)
Employer
(Trading Income)
Personal
Pension Scheme PPS
Individual 80% HMRC 20%
Basic/Higher Band
Loss - CAP
Taxable Net Income
Less: PPS
Adjusted Net Income
Lifetime Allowance 1,000,000
At age 55
≤ £1,000,000
75% Purchase Pension
25% Tax free lump sum
Above £1,000,000
Cash Withdrawl 66% tax charge
Purchase Pension- 25% charge