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Carry forward and save more in your pension

The carry forward rules enable you to use any unused annual allowance from the last three tax years.

The annual allowance is the maximum amount that can be paid into your pensions in a year with the benefit of tax relief. For most people it is currently £40,000. If your total contributions exceed your annual allowance, you may have to pay a tax charge.

However, you may be able to contribute more than your annual allowance to your pension pot in a single tax year and still benefit from tax relief, if you ‘carry forward’ unused annual allowances from the last three tax years.

Please note, if you have triggered the money purchase annual allowance, carry forward cannot be used to make higher contributions than the money purchase annual allowance amount, currently £4,000, to any money purchase pensions you own. Find out more about the money purchase annual allowance.

To be able to carry forward any unused annual allowance you need to adhere to certain conditions. You can find out about these in our guide below. 

Carry forward guide

Read our carry forward guide to find out if you might be able to contribute more than the annual allowance into your pension this tax year.

Download the guide
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Important information - The value of investments can go down as well as up, so you may get back less than you invest. Tax treatment and eligibility to invest in a pension depend on your personal circumstances. All pension and tax rules may change in future.

You cannot usually withdraw money from a pension until you are 55.