What is the Annual Allowance, and how can you make the most of it before the end of the tax year?

The Annual Allowance outlines the maximum pension contribution eligible for tax relief in a single year. For tax year 2024/25, it stands at £60,000, with exceptions for specific income thresholds and unused allowances from previous years.

Take a look at our factsheet for further information on the Annual Allowance, what is involved in carrying it forward, and your threshold income. You can also find a further breakdown in our 2024/2025 tax card.