You're on the United Kingdom website. Switch to the US website here.

Pension tax relief cost to government

The cost of tax relief to the government and how much workers receive.

Cost of pensions tax relief to the government 2022/23
£51.6 billion
Source
Cost of income tax relief 2022/23
£24.7 billion
Source
Cost of National Insurance relief 2022/23
£26.9 billion
Source
Tax relief, basic rate taxpayer
20%
Tax relief, higher rate taxpayer
40%
Tax relief, additional rate taxpayer
45%

Be pension confident!

Combine your old pension pots into one new online plan. It takes just a few minutes to sign up.

Get started
Mobile phone with retirement planner screenshot

Have a question?Call our UK team020 3457 8444

Monday-Friday: 9:30am-5pm