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This petition was submitted during the 2019 to 2024 Parliament

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Closed Increase annual pension allowance tax allowance

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The current annual pension allowance for taxation is set at £40,000.

We want the Government to increase this annual pension taxation allowance to £120,000 immediately and to £200,000 in another 1 year.

The current annual allowance of £40,000 is quite restrictive and we believe is punitive for long-serving employees in all sectors of life.

Individuals from critical and emergency services such as health, security that are key for public life can be adversely affected due by huge tax bills on their pension pot.

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    This petition will stay open until 3 April 2023.