Pension rules change after 1990s?

lutonhatters

Can any pension advisor remember exactly when the pension de minimis limit was stopped sometime after 1998? Prior to it being scrapped a company director could contribute up to £6,000 per company directorship per year to their pension without having to take a pension schemes office funding check salary assessment that limited the amount contributed to the pension.

There was some talk for a while around 1998. Can anyone remember when it was withdrawn?

Brynsam

The (then) Inland Revenue gave life offices until the end of March 1998 to scrap the de minimis limit. Executive Pension Plan holders who contributed before then had 3 years before they were affected by the change to a 17.5% annual earnings limit.

lutonhatters

Thanks Brynsam