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Pension premiums

Pension premiums

  2017/18
Minimum age for taking benefits    55
Annual allowance    £40,000
Lifetime allowance   £1,000,000 
Normal maximum tax-free lump sum  25%
Money purchase annual allowance  £4,000

Annual allowance

There may be entitlement to a greater allowance if there are unused reliefs from the 3 earlier tax years. The relief may however be reduced to £10,000 if pension savings are accessed.