What is the maximum amount that can be paid into my pension fund?

The maximum amount an individual can pay into a pension scheme while enjoying tax relief is subject to an annual allowance, which is based on your earnings for the year and is capped at £40,000. This is the maximum amount you can pay into your pension fund before you have to pay tax on the surplus amount. The annual allowance applies across all of the schemes you belong to, it’s not a ‘per scheme’ limit and includes all of the contributions that you or your employer pay.