You may be caught by the tax limits that apply to pensions if you:
- are a high earner
- have received a promotion
- have received a large one-off payment that is pensionable
- are thinking about making large additional voluntary contributions
The limits are called the lifetime allowance (the total value of all pension benefits you can have without having to pay a tax charge) and the annual allowance (the amount your pension savings can increase in any one year).