🇬🇧 United Kingdom / Retirement Rates

UK Retirement Rates & Limits 2026

Official rates sourced from HMRC, DWP, The Pensions Regulator, 2024/25 limits.

Last updated: 2026-06-27

Current Rates

Parameter	Value
State Pension Full Weekly 2024 25	221.2
State Pension Full Annual 2024 25	11,502
Pension Credit Standard Minimum Single	218.15
Pension Credit Standard Minimum Couple	332.95

Rules & Limits

Parameter	Value
Annual Allowance	60,000
Money Purchase Annual Allowance	10,000
Tapered Allowance Threshold Adjusted Income	260,000
Tapered Allowance Minimum	10,000
Isa Annual Allowance	20,000
Lifetime Isa Annual Allowance	4,000
Lifetime Isa Government Bonus Percent	25
Lifetime Isa Max Bonus Per Year	1,000
Lifetime Isa Age Limit	40
Lifetime Isa Withdrawal Penalty Non Qualifying	25
State Pension Qualifying Years Full	35
State Pension Qualifying Years Minimum	10
State Pension Age	66
Pension Access Age Current	55
Pension Access Age 2028	57
Tax Free Cash Lifetime Max	268,275
Carry Forward Years Allowed	3

Notes

›The pension annual allowance (£60,000 from 2023/24) covers all pension contributions across all schemes including employer contributions. Unused allowance from up to 3 prior years can be carried forward.
›ISA allowances are per tax year and do not carry forward. Stocks and Shares ISAs, Cash ISAs, Innovative Finance ISAs, and Lifetime ISAs all share the £20,000 annual limit (LISA counts towards this limit).
›State Pension age is 66 for both men and women. It is scheduled to rise to 67 by 2028 and 68 by the mid-2040s. To claim, you need at least 10 qualifying NI years and 35 years for the full amount.
›Lifetime ISA funds can be used for a first home purchase (up to £450,000 purchase price) or from age 60. Withdrawals for any other purpose incur a 25% government penalty, which deducts more than the original bonus received.
›Automatic enrolment into workplace pensions began in 2012. Minimum contributions are 8% of qualifying earnings (3% employer, 5% employee). Many employers offer enhanced matching above the minimum.

← Back to United Kingdom Calculators Open Retirement Calculators →

Parameter

Value

State Pension Full Weekly 2024 25

221.2

State Pension Full Annual 2024 25

11,502

Pension Credit Standard Minimum Single

218.15

Pension Credit Standard Minimum Couple

332.95

Rules & Limits

Parameter	Value
Annual Allowance	60,000
Money Purchase Annual Allowance	10,000
Tapered Allowance Threshold Adjusted Income	260,000
Tapered Allowance Minimum	10,000
Isa Annual Allowance	20,000
Lifetime Isa Annual Allowance	4,000
Lifetime Isa Government Bonus Percent	25
Lifetime Isa Max Bonus Per Year	1,000
Lifetime Isa Age Limit	40
Lifetime Isa Withdrawal Penalty Non Qualifying	25
State Pension Qualifying Years Full	35
State Pension Qualifying Years Minimum	10
State Pension Age	66
Pension Access Age Current	55
Pension Access Age 2028	57
Tax Free Cash Lifetime Max	268,275
Carry Forward Years Allowed	3

Notes

›The pension annual allowance (£60,000 from 2023/24) covers all pension contributions across all schemes including employer contributions. Unused allowance from up to 3 prior years can be carried forward.

›ISA allowances are per tax year and do not carry forward. Stocks and Shares ISAs, Cash ISAs, Innovative Finance ISAs, and Lifetime ISAs all share the £20,000 annual limit (LISA counts towards this limit).

›State Pension age is 66 for both men and women. It is scheduled to rise to 67 by 2028 and 68 by the mid-2040s. To claim, you need at least 10 qualifying NI years and 35 years for the full amount.

›Lifetime ISA funds can be used for a first home purchase (up to £450,000 purchase price) or from age 60. Withdrawals for any other purpose incur a 25% government penalty, which deducts more than the original bonus received.

›Automatic enrolment into workplace pensions began in 2012. Minimum contributions are 8% of qualifying earnings (3% employer, 5% employee). Many employers offer enhanced matching above the minimum.