|Maximum annual contribution||£40,000||£40,000|
|Tax on excess||Marginal rate||Marginal rate|
|Normal minimum pension age||55||55|
|Basic State Pension – per week||2016-17||2015-16|
From April 2016, the annual allowance is tapered for taxpayers whose income exceeds £150,000.
The allowance will reduce by £1 for every £2 that an individual’s income exceeds
£150,000, down to a minimum of £10,000 for individuals with income of £210,000 or more.
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