This tool allows you to calculate the amount of available retirement annuity relief available for the year ended 5 April 2006.
All payments into a retirement annuity scheme are made gross. Any amounts you make into a personal pension scheme will be paid net of basic rate tax.
The calculated figures should only be used as a guide and they do not show the amount available for investment in an existing personal pension policy. We recommend you consult a financial adviser before making any commitments.
A new simplified pensions tax regime applies from 6 April 2006. From that date, there are two controls on an individual's tax-relieved pension savings: the Annual Allowance (starting at £215,000 for 2006/07) and the Lifetime Allowance (starting at £1,500,000 for 2006/07).