NOW: Pensions tax top-up scheme 2023-2024

Making sure you don’t miss out on tax relief

We operate a net pay scheme, which means pension contributions come out of your pay before income tax is taken. If you’re a taxpayer you get automatic tax relief, but if you don’t pay tax you don’t get any tax relief.

What are tax top-ups?

If you haven’t paid tax on any of your UK earnings, we promise to top up your pension savings by the amount of tax relief you’ve missed out on each tax year.

Who can apply?

You can apply for a tax top-up if you earned less than £12,570 in total earned income for the 2023-2024 tax year (6 April 2023 to 5 April 2024).

How to apply

We can’t make the payment directly to you, so you’ll also need to give HM Revenue & Customs permission to tell us about your tax situation. You can do this through our claim form, which will open in autumn 2024.

If your claim is successful, we’ll add this money to your pension savings. Remember, if the money is credited to your pension savings, you won't be able to access it until you're aged at least 55, but it will be added to your savings and invested on your behalf.

Apply today

We’ll open the scheme for the 2023-2024 tax year in autumn 2024.