Your age determines how much you can contribute
There are different rules for how much you can contribute to an old-age savings scheme without incurring a charge. The determining factor is how many years you have until reaching state pension age.
If you have more than seven years until state pension age, you can contribute up to per year. If you have seven years or less left until state pension age – or you’re already a state pensioner – you can contribute up to per year.
The contribution limits for an old-age savings scheme apply to your total contributions across all pension companies or financial institutions.
