Important rules for high earners
Important pension changes took effect on 6 April 2016 which mean some higher earners will have a reduced annual allowance.
If your threshold income is over £200,000 then your annual allowance will be reduced by £1 for every £2 that your adjusted income is over £240,000; to a minimum annual allowance of £4,000.
Threshold income is, broadly, all taxable income (including sources of income outside of your employment with IMG Artists, e.g. rental income) plus salary sacrificed for pension contributions on or after 9 July 2015 minus personal or employee (not via Salary Exchange/Sacrifice) pension contributions.
Adjusted income is, broadly, all taxable income (as for Threshold Income) plus employer pension contributions (including via Salary Exchange/Sacrifice) plus some benefit accrual in defined benefit, e.g. final salary, pension schemes.
For more details, please read the 'Tapered Annual Allowance' factsheet.
Important information
You can't normally access the money in a SIPP until at least age 55 (57 from 2028). Please remember taxation depends on your circumstances and tax rules can change over time. Investments can go down in value as well as up so you could get back less than you invest. This website is not personal advice; if you are unsure of an investment's suitability for your circumstances you should seek advice. Correct for 2025/2026 tax year.