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Earnings Cap
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The earnings cap sets a ceiling on the contributions that can be paid to, and the benefits that can be paid by, tax approved pension schemes.
It generally applies to people who contribute to a personal pension scheme, joined an occupational scheme set up since 14 March 1989, or joined any occupational scheme from 1 June 1989, which was set up before 14 March 1989. From 6 April 2001 the cap also applied to people who contribute to stakeholder pension schemes.
Last Updated: June 2007 © Moneyextra.com
Our senior editor Robin Amlôt recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.