The additional pension that can be built up each tax year without any tax charge applying.

This is reducing from £255,000 to £50,000 from 6 April 2011.

The calculation depends on whether your pension is final salary or defined contribution. For final salary schemes, like yours, you multiply the additional pension you accrue in each scheme year (this is our pension input period) by a factor set out by HMRC (16).

This means the maximum additional pension you can accrue each year, without incurring a tax charge, is £3,125.

No. From 2012 the figure will be shown on your annual benefit statements as “the pension input amount”

You will have to add those contributions to the pension input amount shown on your annual benefit statement.  Please note the pension input amount on your benefit  statement does include any BlackRock AVC contributions.  It does not include any contributions to the Stakeholder Scheme.

Yes. The Government has said the limits will remain until 2015/16 when they will be reviewed.

You will be subject to a tax charge at your highest marginal rate on the excess. However, you are able to carry forward any unused AA over the three previous years to offset against any excess savings. If the tax charge is less than £2,000 you will have to pay the charge but if it is over £2,000 you can ask the pension scheme to pay and have you pension reduced.

The total amount of tax advantageous pension savings which individuals can build up in their lifetime.

This is reducing from £1.8m to £1.5m from 6 April 2012.

The calculation depends on whether your pension is final salary or defined contribution. For final salary schemes, like yours, you multiply your total pension by a factor set out by HMRC  of 20 so £75,000 x 20 = £1.5m.

This means the maximum pension you can accrue without incurring a tax charge, is £75,000 per annum (reduced from £90,000 per annum).

Yes. It is not possible for the Pensions Department to monitor this figure as we do not have access to all your pension arrangements.

Yes. Protection is available for individuals whose total pension savings across all UK registered pension arrangements are likely to exceed £1.5m, but are less than £1.8m.

Individuals must apply for this protection by 6 April 2012. If you receive this protection you will not be able to build up any further pension benefits under an UK registered pension arrangement. We recommend you seek specialist financial advice before applying.