What is the max that can be taken from a salary for a pension (in %)?

Question

My last pension was 7% of my salary then the employer paid about 14%. I have no details on my new pension but i am trying to work out how much I might earn, so if I knew what the MAXIMUM amount that could be taken for my pension, that would help. Is there a max? I am in the UK

Answer 1

Following changes to pension rules in April 2006, you can now save as much as you like into any number and type of pensions (irrespective of age) - and get tax relief on contributions of up to 100 per cent of your earnings (salary and other income) each year, subject to an upper 'annual allowance'.

The annual allowance for the tax year starting 6 April 2006 will be £215,000 and will rise each year until it reaches £255,000 in 2010; thereafter the amount will be reviewed every five years.

Answer 2

It depends on the pension scheme that your new employer offers. Very often you can decide what % deduction you choose to make. This is typically 3 - 9%.