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Pensions

Pension tax relief calculator

One of the benefits of saving into a pension is the boost you can get on your contributions, through tax relief. You must be under age 75 to get tax relief. There are also limits on how much tax relief you can receive and how much you can pay into a pension.

You'll only get tax relief on personal pension contributions up to 100% of your UK earnings, or £3,600 if this is greater (if you're a low or non-earner). There is also an annual allowance for pension contributions, which is £60,000 for most people.

Calculate your pension tax relief

Enter the amount you earn below and what total pension contribution you want to make. The calculator will show you how much you'll need to pay in yourself, how much tax relief the government will add, and how much you could reclaim through your tax return if you pay tax at a higher rate.

Scottish taxpayers make sure you tick the 'I pay income tax in Scotland' box, because different tax bands and rates apply to your income which will affect your results.

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£
For more details of the Scottish rate of Income Tax please see GOV.UK
This is your current annual taxable income. It will be used to calculate the amount of tax relief you are eligible to receive.
This is the gross lump sum contribution you would like to pay into your pension. It will be used to calculate the net amount you'll actually pay and the basic rate tax relief you'll receive from the government. A £60,000 annual allowance currently applies to most people, although you may be able to carry forward unused allowances to invest as much as £200,000 now. The figures are for the 2024/2025 tax year.

Why have we used these figures?

The chancellor will announce the outcome of a review of pension tax relief on 16 March 2016. It has been widely reported he is considering introducing a single savings incentive of between 25% and 33% for everyone.

It is important to note nothing has been confirmed. The chancellor could decide to change nothing or choose a different system.