Why am I seeing this message?
You’re seeing this message because your pension selection may exceed your Annual Allowance.
- You will receive a warning if your selected contribution is higher than the allowance applicable to you
- If your default pension selection exceeds your Annual Allowance, it will automatically be capped at the maximum allowed
You may still choose to increase your contribution above this level and proceed if you wish. However, if you do, the employer contribution will remain capped at the maximum permitted amount.
What does this mean for me?
This warning is in place to help you understand that exceeding your Annual Allowance may result in additional tax charges.
If you choose to contribute above your allowance:
- Your employer contribution will not increase beyond the capped limit
- You should ensure you understand any potential financial or tax implications
If you’re unsure, please contact your HR or benefits team for further guidance.
What do I need to do?
If you decide to proceed, you can amend your contribution.
Once you have made your changes:
- Select ‘Add Benefit’ as usual
- Review your selection
- Confirm to proceed