Pension Tapered Annual Allowance Calculator

The tapered annual allowance reduces the amount you can contribute to your pension each year if you have a high income. Here's how it works:

• Standard annual allowance is £60,000 (2023/24)
• If your threshold income is over £200,000 and adjusted income is over £260,000, your allowance is reduced
• The reduction is £1 for every £2 your adjusted income exceeds £260,000
• The minimum tapered allowance is £10,000
• Excess contributions are taxed at your marginal rate of income tax

Note: This calculator provides estimates based on 2023/24 tax rules. Please consult with a qualified financial advisor for personalized advice.