A: Any individual may contribute to a registered pension scheme. The contributions will receive tax relief if they are under age 75 and:
The tax relief will be limited to the greater of £3,600 p.a. and 100% of UK relevant earnings.
A: So long as they are eligible to contribute to a registered pension scheme (see above) a payment of any amount can be made, regardless of a member's level of earnings. The maximum payment which will receive tax relief is a total gross payment (i.e. member contributions and basic rate tax relief) of up to £3,600 per annum gross in any tax year.
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.