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State Pension data

UK pension saving statistics

Retirement Living Standards

Pension tax relief cost to government

Pension tax rules and allowances

State Pension data

UK pension saving statistics

Retirement Living Standards

Pension tax relief cost to government

Pension tax rules and allowances

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

Cost of income tax relief 2022/23

£24.7 billion

Cost of National Insurance relief 2022/23

£26.9 billion

Tax relief, basic rate taxpayer

20%

Tax relief, higher rate taxpayer

40%

Tax relief, additional rate taxpayer

45%