Pension input periods


With A-Day (6 April 2006) came the introduction of the “annual allowance”. Broadly, the annual allowance limits the amount of pension savings that can be made on a tax advantageous basis in relation to an individual in any tax year. It is assessed by reference to the scheme’s “pension input period” (PIP) ending in that tax year. Trustees can nominate a PIP which need not correspond to the tax year and can, instead, fit in with the scheme year. As the end of the current tax year is fast approaching, in this Alert we look at what trustees who have not yet nominated a PIP need to consider.

Download PDF