What is the carry forward rule? - Pensions 101

Your pension annual allowance for the current tax year is up to 100% of your salary or £60,000 (whichever is lower). If you’ve used this up, you might be able to use carry forward to contribute more to your pension, while still receiving tax relief. With the carry forward rule, you can make the most of any unused annual allowance from the previous three tax years (starting from 2020/21).

In this video, our VP Product; Martin Parzonka explains the pension annual allowance, how pension contribution rules differ based on your income and how the carry forward rule works.

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Useful links:

Learn more about the pension carry forward rule here - https://www.pensionbee.com/pensions-e...

Visit our Pensions Explained Centre for more information on pension contribution limits - https://www.pensionbee.com/pensions-e...

Learn how to use carry forward to make big pension payments - https://www.pensionbee.com/blog/2022/...

Discover what the money purchase annual allowance is here - https://www.pensionbee.com/pensions-e...

Check the current tapered annual allowance for high earners - https://www.pensionbee.com/pensions-e...

Discover how much you need to pay into a pension? -    • How much do you need to pay into a pe...  

And learn how to make an Easy bank transfer -    • How to make an Easy bank transfer  

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Video and editing: Pictures for the People