The absolute limit on earnings allowed a local telephone company under the Alternative Regulatory Framework; all earnings above this cap must be returned to customers.
The salary limit on which pension contributions and benefits are based. For 1997/98 the cap was £84,000. It affects contributors to personal pensions and members who joined a final salary scheme after June 1, 1989.
The maximum salary on which you can base contributions to, and receive benefits from, a tax approved pension scheme is £97,200 (year ending April 2003). It only applies if you: contribute to a personal pension scheme (including stakeholder arrangements); 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. back
The maximum earnings level that used to be used when calculating pension contribution limits. No longer applies since A-Day.
In a personal pension scheme, the earnings cap is a limit on how much of an individual's net relevant earnings can be used to work out the limits on contributions. In an occupational pension scheme, the earnings cap applies to scheme members who are subject to the post-89 tax regime (known as "Class A members"). It is a limit on the amount of earnings that can be used to work out the limits on both contributions and benefits.
Since 1989 there has been an upper limit on the amount of salary that can be taken into account when calculating pensions arising from and contributions payable under an approved arrangement. This is known as the 'earnings cap'. In the current year (1999-2000) the amount is £90,600.
The ceiling which the Pensions Schemes Office puts on your earnings for pension and contribution purposes. For 1998-1999 it is £87,600. There are some cases where this may not apply, in particular for members who joined their scheme before 1987.
The salary limit, set by the Inland Revenue, on which pension contributions and benefits are based. It covers those who joined their pension scheme on or after 1st June 1989. It is increased each year in line with the Retail Prices Index. For 2003-04 it is £99,000.
The upper limit on the amount of salary that can be taken into account when calculating how much you can contribute to your pension, or take from your pension.
Limit, currently € 254,000 per annum, on earnings from all sources for the purpose of calculating allowable tax relief on personal contributions to all forms of pension arrangements, including PRSAs. Separate or simultaneous employments or self-employment no longer generate separate allowances
Limitation introduced by FA89 on the amount of remuneration on which the benefits and contributions of a member who is subject to the Inland Revenue post 89 maximum benefit limits (i.e. a member without continued rights) may be based. This was set at £60,000 for tax year 1989/90, and is usually increased annually in line with prices. The same limitation applies to net relevant earnings for all members of personal pension schemes for tax years 1989/90 onwards. Also known as the permitted maximum (s590C ICTA88) or allowable maximum (s640A ICTA88).
If you started pensionable service after 31 May 1989 the government limits the pay used to calculate the payments you can make to the scheme and the benefits you and your dependants can receive from the scheme. This figure is adjusted each year in line with price inflation. For 2004-2005 it is £102,000.
a limit placed on the annual earnings (or profits for self-employed individuals) for the purposes of calculating maximum pension contributions and maximum pensions. The limit is £102,000 for the 2004/05 tax year.
was introduced by the Finance Act 1989 and is the permitted maximum salary level on which contributions and benefits can be based for members subject to the POST 89 Inland Revenue Regime.
This is a limit on how much of a member's earnings may be used to work out the limits on contributions and benefits in an approved scheme . This limits the amount that a high earner can put into a pension scheme and still get tax relief. The limit is set every year in the Government's Budget.
