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The Pension Planner takes data from the IRIS data entry (from y/e 5/4/97 onwards) and displays it on this spreadsheet. Its purpose is to compute the unused relief and therefore the maximum allowable pension contribution that may be made and gain full tax relief. For a step-by-step guide to the pension planner click here.
From 2002 onwards, the maximum allowable contribution for personal pensions no longer includes unused relief brought forward. The maximum contribution is based on the highest NREs from a six year range - the current year and the five years before it. IRIS will automatically pick the best year and compute the "Max" amount accordingly. Note that retirement annuity plans continue to work in the old way - utilising unused relief brought forward.
Click on the screen shot for further details for each section
IRIS figures are flagged with an I to the left of the data entry fields, above. Type in your own figure (flagged O) or click on the magnifying glass to the right of the data entry field to view the breakdown of net relevant earnings or payments made.
Access to the retirement annuity section in the bottom half of the screen is available if the little box in its top right hand corner is ticked.