Time is all relative

Thanks to the A-Day rules a pension input period, which one might reasonably expect to last a year in line with the tax year, does no such thing. This subtlety is something that advisers must be aware of. All a pension input period is, say the rules, is a recurring period starting from the day money is first paid into a pension after A-Day and there is a notable opportunity to reset it. This rule must be read along with the fact that clients can receive tax relief only on pension contributions up to the lower of 100% of their earnings or the annual allowance for that tax year, so long as t...