Annual Allowance

As a member of the Local Government Pension Scheme you are benefiting from tax relief on the pension savings you build up each year. However, the Government sets a limit on how much tax relief you may have and this is known as the Annual Allowance (AA).

Please see the factsheet below for further information:

Annual Allowance Calculator

Below is a link to the new Beta version of the annual allowance calculator.

Pension Scheme members can use this to check

  • How much annual allowance they have used
  • if they have an annual allowance charge to pay
  • if they have any unused pension annual allowance to carry forward

Annual allowance calculator

Lifetime Allowance

The maximum value of pension benefits that an individual may build up over their lifetime without incurring a tax charge is known as the Lifetime Allowance (LTA).