• Employers are no longer able to issue any notifications for compulsory retirement using the former default retirement age (age 65). Default Retirement Age

  • The annual allowance is set at £40,000 for 2021/22. The allowance is reduced where individuals have “adjusted income” in excess of £240,000. Annual Allowance

  • The lifetime allowance is set at £1.0731 million for 2021/22 and the next four years (ie until 2026/27. Lifetime Allowance

  • Since 6 April 2015 individuals with pension savings in defined contribution schemes have been able to flexibly access their pension savings on reaching age 55. Flexible Access

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