Frequently Asked Questions

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You asked: Do I get tax relief on my Aviva Pension (SIPP) contributions?

You can normally get tax relief at source at the basic rate of tax (currently 20%) on regular and one-off payments into the Aviva Pension. So a payment of £80 means £100 will go in to the pension as the Government pays the other £20. If you're a higher rate taxpayer, you can claim higher rate tax relief through your self-assessment returns. You don't get tax relief on pension transfers as you've already received this when you first paid the money into your pension.

If you're a UK taxpayer, you'll get tax relief on pension payments of up to 100% of your earnings or a £40,000 annual allowance whichever is lower. If you don't have any earnings, or earn less than £3,600 each year, you can get tax relief when paying into your pension up to £3,600 . You'll pay income tax at the highest rate you pay on any payments you make into your pension over this limit.

You will have a tapered annual allowance if you have an income of:

  • £110,000 or more excluding payments into your pension.
  • £150,000 or more including payments into your pension.

This means your annual allowance will reduce by £1 for every £2 of income above £150,000, up to a maximum reduction of £30,000. This means your annual allowance could fall to £10,000.

Please be aware that tax treatment depends on your individual circumstances. This information is based on our understanding of current tax legislation and may be subject to change in future.

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