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Will Moneybox make sure my pension contributions don’t exceed my earnings or the annual allowance?
Will Moneybox make sure my pension contributions don’t exceed my earnings or the annual allowance?
Alex avatar
Written by Alex
Updated over a week ago

Unfortunately not. Moneybox automatically collects basic tax relief on your contributions, which means it’s important to make sure any contribution you’re making to your Moneybox Pension is eligible for tax relief. For most people, this means contributing no more than your annual earnings or the annual allowance (£60,000) across all the pension schemes you belong to.

It is your responsibility to make sure your contributions don’t exceed your earnings or the annual allowance, as Moneybox won’t be keeping track of this on your behalf.

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