• Sitemap
• Disclaimer
• Accessibility

• Home
• Standard Section
• Defined Contribution Section
• News & Updates
• Useful Terms

• Scheme & Trust Information
  • Role of Trustee Board
  • Trustee Board
  • Trustee Committees
  • Advisers
  • Trustee board meeting debrief
• Standard Section
  • Employee Members
    • Can I Join the Standard Section?
    • Contributions
    • Excess defined contributions (including TUCs)
    • Investments for DC funds
    • Benefits on Retirement
    • Early Retirement
    • Longevity Adjustment Factor
    • Late Retirement
    • High/Low Pension Option
    • Can I Exchange Pension for Cash?
    • Tax Regime
    • Incapacity Retirement
    • Benefits on Death in Service
    • Leaving the Scheme
  • Deferred Pensioners
    • How is my pension calculated?
    • Increases to Deferred pensions
    • Transferring pension rights
    • Early Payment
    • Longevity Adjustment Factor
    • Incapacity Retirement
    • Benefits on Death
    • Tax Regime
    • Taking a small pension as a lump sum
    • Deferred Defined Contributions
  • Pensioners
    • Pension Payment Dates
    • Pension Increases
    • Payment Advice Slips
    • P60 (End of Year Certificates)
    • Taxation of pension
    • Taking a small pension as a lump sum
    • Death in Retirement
• Defined Contribution Section
  • Who Can Join the DC Section?
  • Contributions
  • Investments
  • Retirement Benefits
  • Leaving Service Benefits
  • Death Benefits
  • Charges
  • Summary of DC Pension Terms
• Financial Summary
  • Investment of Assets
  • Fund's Value
  • Investment Performance
  • Standard Section Investments 2016
  • DC Section Investments 2016
  • Focus on the Accounts
• Forms
• Scheme Documents
  • Annual Report and Accounts
  • Trust Deed and Rules
  • Members' Handbooks
  • Statement of Investment Principles (SIP)
  • Actuarial Valuation
  • Privacy Statement
• Member Communications
  • Newsbrief
  • Pensioners Update
  • Pensions Consultative Meeting
  • Member Survey 2013
• Contact Us
  • Pensions Office
  • Legal & General - DC benefits
  • Customer Service
• News & Updates

Tax Regime

There are 2 main limitations capping tax effective pension savings: an Annual Allowance (AA) and a Lifetime Allowance (LTA).