Personal finance
Pension tax relief
Tax the government gives back on money you pay into a pension, so contributions effectively cost you less than they add. Higher-rate taxpayers may need to claim part of it.
A plain-English explanation, not financial or tax advice. Rules and rates change, so check your own situation. For free, impartial guidance, try MoneyHelper. Disclaimer.
You'll hear it as
With pension tax relief, putting £100 in only costs a higher-rate taxpayer £60.
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