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Payslips for April and P60's for tax year ending 5th April 2018 will mail 2nd class today.
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Every April we revalue active members Pension Accounts in line with HM Treasury Revaluation Orders (revaluation to be such percentage increase or decrease as is specified in an order made by HM Treasury).
The order specified is currently the Consumer Price Index (CPI) rate of inflation at September each year. This rate is then applied to Pension Accounts the following April. The rate at September 2017 was 3%, which means Pension Accounts built up since April 2014 will be re-valued by this amount.
This adjustment only applies to the CARE part of a pension. If active members also have final salary pension benefits from membership before April 2014 then these benefits are worked out differently and the 3% increase does not apply.
The Annual Allowance is the maximum amount your benefits can grow each year without incurring a tax charge.
The Annual Allowance set for 2018/2019 remains unchanged at £40,000