Carry forward

Carry forward allows individuals to make higher tax relievable pension contributions than they otherwise might be able to, by using unused annual allowances from the three previous tax years, if the annual allowance for the current tax year has been used up. This means your client may be able to contribute more to their pension pot this tax year (until 5th April 2021) and still benefit from tax relief (subject to having relevant earnings equivalent to the amount they want to contribute).

To be able to do this they will need to adhere to certain conditions.

Client guide on utilising carry forward

For more information to help your clients understand the importance of maximising their pension contributions, download this guide.

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Important information

The content contained on this page is designed to give professional financial advisers technical information on retirement planning and pensions legislation and should not be relied upon.

No statements or representations made in any of the content provided on this page are legally binding on Fidelity or the recipient and no liability is accepted in connection with this material or any matter discussed. FundsNetwork cannot give advice regarding tax.