Paying into a pension scheme
There is no limit to the amount you can pay into your pension fund.
Pension contributions and tax relief
The maximum tax relief is the lower of:
- Your total pension contribution(s)
- £50,000 less any excess
- your relevant earnings less any excess
Jersey pension scheme tax guide: glossary of terms
An excess is calculated if your total income is more than £150,000.
Total income for this purpose is defined in Article 4 of the Income Tax Law. This ignores the total of:
Use our tax calculator to see how this works to reduce you tax.
Example 1
Example 2
Pension contributions | 50,000 |
To calculate the pension relief restriction | |
Total income | 160,000 |
Excess (£160,000 - £150,000) = £10,000 | |
Example 3
Pension contributions | 50,000 |
To calculate the pension relief restriction | |
Total income | 200,000 |
Excess (£200,000 - £150,000) = £50,000 | |
Example 4
Pension contributions | 20,000 |
To calculate the pension relief restriction | |
Total income | 170,000 |
Excess (£170,000 - £150,000) = £20,000 | |
Example 5
Spouse A pension contributions | 50,000 |
Spouse B pension contributions | 50,000 |
To calculate the pension relief restriction | |
Spouse A total income | 160,000 |
Excess (£160,000 - £150,000) = £10,000 | |
Spouse B total income
| 40,000 |
Excess = £0
| |
Example 6
Pension contributions | 20,000 |
To calculate the pension relief restriction | |
Total income | 170,000 |
Excess (£170,000 - £150,000) = £20,000 | |