The maximum amount of pension savings that can be built up in any one tax year before liability to an annual allowance charge, which is a tax charge levied by HMRC.

An annual allowance refers to a tax deduction relevant to Canadian businesses that have purchased eligible capital property. The Canada Revenue Agency considers that the amount paid for an eligible ca [..]

This is the maximum amount of money you can put into your pension funds in a given tax year, and still claim tax relief.

The amount of money you can save into your pension each year while retaining pensions tax relief, currently £50,000 for the 2011/12 tax year.

an amount of money provided to employees in certain locations; provides employees with the flexibility to use the allowance in the manner most meaningful to them, rather than the Company specifying how it is to be used.