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Budget 2023: Tax-free pension limits raised - here's what it means for your savings

MSE_Emily · 2023-03-15 18:38:57

The maximum annual tax-free amount you can save into a pension once you've taken money out of it will rise from £4,000 to £10,000 from 6 April. Meanwhile, the amount you can save into your pension tax-free each year is also set to rise, as is the amount you can save into pensions over a lifetime. The shake-up has been…

Comments

JoeCrystal Posts: 3,382 Forumite

20 March 2023 at 5:39AM

DJDools said:

My son will be classified a 'non-earner' (recent health issues) for 2023-2034 — considering he won't have any earnings coming in, what is the limit he could put into his pension? Is it to remain at £3,600? And is that £3,600 net of pension relief?

Still £2880 net or £3600 gross..

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