Registered pension schemes are subject to tax rules and limits. These tax limits are laid down by HM Revenue and Customs as tax legislation.
This section of the website covers the main tax rules that apply to members of the HSC Pension Scheme. Follow links for more information.
The Annual Allowance (AA) is the amount that your pension benefits can increase by each year.
The Lifetime Allowance (LTA) is the total amount of pension savings that an individual can have before being subject to tax.
HSC Pension Service and employers cannot provide financial advice, therefore, you may wish to consider consulting an independent financial adviser.
Below are some useful links to HMRC for more detailed information about Tax implications, protection and the tax charges that could be applicable.
HMRC Pension Tax Manual
Registered Pension Manual
HMRC Pension Schemes Services