Pensions
| Registered Pensions | 2021/22 | 2020/21 |
|---|---|---|
| Lifetime Allowance (LA) | £1,073,100 | £1,073,100 |
| Annual Allowance (AA)* | 40,000 | 40,000 |
Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600.
*Usually tapered down, to a minimum of £4,000, when adjusted income exceeds £240,000.
| State pension (per week) | 2021/22 | 2020/21 |
|---|---|---|
| Old state pension – Single person | £137.65 | £134.25 |
| Old state pension – Married couple | 220.05 | 214.70 |
| New state pension† | 179.60 | 175.20 |
†Applies to those reaching state retirement age after 5 April 2016.