These have not been sold since 1989, but
if you have one it may be a useful resource, especially
if it has a Guaranteed Annuity, and/or you may earn more
than the Earnings Cap, (£97,200 in 2002/03).
Retirement
Annuity contracts contribution
limits
Age
at start of tax year
%
Net Relevant Earnings*
50
or less
17.5%
51-55
20%
56-60
22.5%
61-74
27.5%
*Net Relevant Earnings are broadly speaking
your income from work. For employees it can include the
value of company cars and fringe benefits, overtime etc.
It excludes income from investments.
Stakeholder Pensions Note. You can contribute
to a Stakeholder if you have a Retirement Annuity contract.
If this is possible then you can make total gross contributions
of £3600pa, even if this is more than the calculator
indicates.
