Pension tax relief: The annual allowance and lifetime allowance
This briefing discusses changes to the lifetime and annual allowances - which limit tax relief on pension savings.

This Commons Library Briefing paper covers pensions dashboards, which are being developed to enable people to access information about their pensions online.
Pensions dashboards (499 KB , PDF)
Pensions dashboards enable people to access information about their pensions online. Pensions dashboards are being developed in the UK, which will allow people to access information about pensions held in different schemes, with different providers and the state pension in a single place.
Changes to the labour market and pension reforms are expected to increase the complexity of some decisions people need to make about their pensions. In 2012, the Department for Work and Pensions estimated that people would work for eleven different employers during their working life. In April 2019 the Government said pensions dashboards would increase people’s awareness and understanding of their pensions, help them find lost pension pots, and enable them to make more informed decisions about how they choose to access their pensions.
In the UK, private sector organisations with suitable permission will be able to provide their own pensions dashboard service by connecting to a single digital architecture. The digital architecture is being developed by a Pensions Dashboards Programme. The Money and Pensions Service, which is a public body supported by the Department for Work and Pensions, will also develop its own non-commercial dashboard.
The Pension Schemes Act 2021 provided the legislative framework for pensions dashboards. The Pensions Dashboards Regulations 2022 set out the detailed framework for pensions dashboards in England, Wales and Scotland. Corresponding regulations are set out in The Pensions Dashboards Regulations (Northern Ireland) 2023.
The Pensions Minister announced in June 2023 that pension schemes will need to be connected to the pensions dashboards digital architecture by 31 October 2026. This is a year later than the initial last date for connection.
Responsibility for delivering pensions dashboards is spread across several organisations:
Some of the key issues which have been debated include:
Pensions dashboards (499 KB , PDF)
This briefing discusses changes to the lifetime and annual allowances - which limit tax relief on pension savings.
This briefing paper details the support available to armed forces veterans in Great Britain and Northern Ireland.
A summary of the announcements in the 2023 Autumn Statement and an overview of the latest economic forecasts.