You’re about to pay into your pension.
Complete five steps to pay into your pension.
Check you can make a payment
If you’re under 75, you can use this form to make a payment into your Retirement Account.
If you live in the UK
The most you can pay each tax year is the greater of these amounts:
- 100% of your earnings for that tax year
Get ready to fill in the form
When you fill in this form, you’ll need your:
- contact details
- policy number
- payment details
- National Insurance number
- employment status
- annual income amount.
If you’re not sure if paying into your pension is right for you, you can always get independent financial advice.
None of the information in this form counts as financial advice.
How we’ll invest this payment
We’ll invest this payment in the same way as your current Planning fund structure.
How much you can pay in
There are limits on how much you can pay into your pensions each tax year before you have to pay more tax.
There’s the annual allowance, which is normally £60,000 per tax year.
Your annual allowance can be:
- higher, if you have unused allowance left over from previous years
- lower, if you’re a high earner.
There’s also the Money Purchase Annual Allowance (MPAA). This applies if you access your pension benefits ‘flexibly'. For example, taking certain types of lump sum. At the moment, the MPAA is £10,000 per tax year.
Annual allowances can be complex. If you think these may affect you, we recommend you get independent financial advice.