I have just had a letter from my provider stating what my contribution limit is for the next 3 yrs, based on my last gross salary.
Checking the figures, surprisingly the limit is *precisely* 20% of salary. Which based on my age is the *exact limit* for a *personal* pension scheme.
But the policy is an *executive* pension plan, which AFAIK has funding limits calculated on more complex criteria than the simple contribution tables for personal pension plans. The basic tables I have for EPPs (and have been using to calculate my contributions over the years and which have passed previous funding checks) .
Thus I am extremely suspicious that all of a sudden that the funding limits perfectly match that of a personal pension plan.
If someone can inform me as to whether I am mistaken in my understanding of the current EPP requirements, I would be grateful. Because at the moment, the first person to answer the phone at the provider call centre on monday morning is scheduled for a severe bollocking ...
Regards, Steven Perryman