Member Touchpoint – Annual Allowance

There is a growing impact of Annual Allowance on Armed Forces personnel with over 4,000 serving military personnel in 2020 receiving notification that they may have exceeded their Annual Allowance limit.

In this year’s Spring Budget there was no policy decision and the Annual Allowance limit currently remains at £40,000.

In our latest Audio Touch Point Session, David and Wendy who head up our Armed Forces Pensions team, get into the gritty details of Annual Allowance Taxation.

With simple Q&A you can find out what Annual Allowance tax is, how it’s calculated, what you need to do if you are notified that you may have breached your AA limit, and of course how you pay the tax bill!