There are HM Revenue and Customs (HMRC) controls on the total amount of contributions you can make into all pension arrangements and receive tax relief.
You can, if you wish, pay up to 100% of your taxable earnings in any tax year (or £3,600 of contributions if greater) into any number of concurrent pension arrangements of your choice and receive tax relief on your contributions.
Most scheme members' pension savings will be less than the allowances.
Annual allowance
The Annual Allowance (AA) is the amount your pension savings can increase by in any one year without paying extra tax. Years run from 6 April to 5 April. The annual allowance for 2022 to 2023 is £40,000. The AA increases to £60,000 for 2023 to 2024.
Lump sum tax free allowances
There are limits on the amount of tax-free cash you can take from your pensions. Find out about lump sum tax free allowances