The following tax rates and allowances are applicable for the tax year 1997/98 with comparatives for the year 1996/97.
| PERSONAL PENSIONS | ||
| Contributions limit - % | ||
| of net relevant earnings | ||
| Age on 6 April 1997 | PPS | RAP* |
| 35 or less | 17.5 | 17.5 |
| 36-45 | 20 | 17.5 |
| 46-50 | 25 | 17.5 |
| 51-55 | 30 | 20.0 |
| 56-60 | 35 | 22.5 |
| 61 and over | 40 | 27.5 |
| Cap for net relevant earnings PPS £84,000 (1996/97 - £82,200) | ||
| * Retirement annuity policy limits apply to policies effected before 1 July 1988. |