My Pension Input is more than £60,000 what do I need to do?

Check whether you have enough unused Annual Allowance from the last three tax years. You can only use the unused Annual Allowance once so if you exceeded the Annual Allowance in an earlier tax year and used the unused Annual Allowance to offset that, you can not use it again to offset the 2023/24 excess.

If your total Pensions Input for the year exceeds the Annual Allowance plus any unused Annual Allowance carried forward from earlier tax years, then you will need to pay a tax charge on the excess.

You may be able to pay the tax charge through the Fund, please contact the Fund Office for further information.