Added Pension - Limits and Deadlines 2024
Please see tables below for details of overall limits and deadlines which apply for the financial year commencing 06 April 2024
Financial Limits
2023/2024
| Membership | Maximum amount of added pension |
|---|
| classic | £6,800 (plus lump sum amount of £20,400) |
| premium, classic plus or nuvos | £8,400 |
| alpha | £8,400 (this limit may be reduced if the member is also buying EPA) |
2024/2025
| Membership | Maximum amount of added pension |
|---|
| classic | £7,300 (plus lump sum amount of £21,900) |
| premium, classic plus or nuvos | £9000 |
| alpha | £9000 (this limit may be reduced if the member is also buying EPA) |
Deadlines
You will be notified of when you can apply to purchase Added Pension, but please take note of the key dates and actions in the table below if you are thinking of applying to buy Added Pension.
Summary of deadlines for lump sum payments:
| Buying Added Pension 2023/24 via Lump Sum | Deadline |
|---|
| Lump sum through payroll | 16 February 2024 |
| Lump sum paid by BACS | 22 March 2024 |
| Lump sum via cheque | 14 March 2024 |
Summary of deadlines for applications for monthly contributions:
| Buying Added Pension and/or Effective Pension Age (EPA) via monthly contributions 2024/2025 | Deadline |
|---|
| All current alpha members who wish to purchase Added Pension and/or EPA | 8 March 2024 |