Annual pension contributions are limited in this current tax year to £40,000.
How much income you can afford to pay into your pension is different for everyone, but there is a legal limited to the amount you can save. This is currently set at £40,000 a year, which works out at a maximum of £3,333 paid in per month. If you are trying to work out how to optimise your payments get in touch with one of our specialist pensions advisors. We will conduct a full income and expenditure calculation, to check if the amount you have chosen to pay is affordable and sustainable in the long-term.
Brookson Advice:
Once your pension is set up payment options are very flexible, so you can amend the contributions you make at any given time.