Budget 2004 - Back to Menu

Personal Pensions (PPPs) and Retirement Annuity Premiums (RAPs) Max contributions: % Of Net Relevant Earnings Age at beginning of year RAPs% PPPs% 35 or less 17.5 17.5 36 - 45 17.5 20.0 46 - 50 17.5 25.0 51 - 55 20.0 30.0 56 - 60 22.5 35.0 61 and over 27.5 40.0   Maximum net relevant earnings for 2004/05 PPPs: £102,000. No limit for RAPs. People with no net relevant earnings can pay contributions of £3,600 gross in 2004/05, except for some members of occupational pension schemes and those aged 75 and over.