From 6 April 2023 the allowance increased from £40,000 to £60,000.
You can contribute up to 100% of your salary towards your pension savings and still get tax relief, as long as the combined contributions from you and your employer are below the annual allowance. This applies to all the pension schemes you’re actively saving into, including our Scheme and any personal pensions you have.
The annual allowance could reduce to £10,000 a year if you start taking retirement benefits but also carry on saving into a pension. This reduced annual allowance is called the money purchase annual allowance.