Archived article: This article was correct at the time of publishing. Tax, investments and pension rules can change over time so the information below may not be current.

How to pay up to £130,000 extra into your pension

We are approaching the end of the tax year and many people are scrambling to use the current year’s tax allowances before they run out. But did you know that 5 April is also your last chance to carry forward the bigger £50,000 pension annual allowance from 2013/14?

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What is pension carry forward?

Pension carry forward lets you make extra pension contributions by using any unused annual allowance from the last three tax years. This tax year is your last chance to make the most of your 2013/14 allowance.

  • To take advantage of carry forward you must first use all of your annual allowance for the current tax year (£10,000-£40,000)
  • You can then use your old allowances, starting with the earliest of the three years
  • Your total pension contributions can’t exceed your annual earnings

Our pension experts have put together a simple guide to pension carry forward. It explains all of the rules around pension carry forward and gives you an example to see how it works.

Pay up to £130,000 extra into your pension

2013/14 was the last tax year to give you a £50,000 pension annual allowance. Added to the £40,000 allowance for the last two tax years, this means you could pay up to £130,000 extra into your pension and get tax relief on your contributions.

How much extra can you afford to contribute?

It makes sense to save as much as you can for retirement, but not if saving for the future will cause financial problems in the short-term. If you’re unsure how much you can afford to pay into your pension – or how much you’re allowed to pay in – then you might benefit from speaking to a financial planner.

You can have a free conversation with a financial planner through our wider Tilney Group. They will meet you at your home or local Tilney office, or speak to you over the phone. They would be happy to explain how they could help you and there is no obligation to do any business with us afterwards.

Speak to us about carry forward

If you’d like to start using your extra allowances today, you can open a Best SIPP or contact our experts for more information. Get in touch by calling 020 7189 2400 or emailing


Pension carry forward rules can be complex, especially when it comes to tax relief. You should speak to a financial planner if you are interested in pension carry forward.