Money rules and figures
The figures that change every year, in one place. Each one links to its official source and shows the period it applies to and when it was last checked.
- UK figures
- 2026/27 tax year: 6 April 2026 to 5 April 2027
- US figures
- Calendar year 2026: 1 January to 31 December 2026
This is the rules page referred to in You're Not Behind. The book explains how each rule works; this page keeps the numbers current, so the book doesn't go out of date when an allowance changes.
United Kingdom · 2026/27 tax year
UK figures
Apply from 6 April 2026 to 5 April 2027 unless a row says otherwise.
State Pension and private pensions
| Rule | Figure | What it means | Source, checked |
|---|---|---|---|
| Full new State Pension | £241.30 a week | For people who reached State Pension age on or after 6 April 2016. What you get depends on your National Insurance record, so check your own forecast. | GOV.UK, updated 6 Apr 2026; checked 8 Nov 2026 |
| Qualifying years | 10 minimum · 35 for full | You normally need at least 10 qualifying years to get any new State Pension. With no record before April 2016, you need 35 for the full amount. | GOV.UK; checked 8 Nov 2026 |
| State Pension age | 66, rising to 67 | Rising to 67 between 2026 and 2028 for people born on or after 6 April 1960. Check your own date. | GOV.UK timetable; checked 8 Nov 2026 |
| Minimum pension age | 55 · 57 from 6 Apr 2028 | The earliest age you can normally take money from a private or workplace pension, unless you are too ill to work or have a protected pension age. | GOV.UK; checked 8 Nov 2026 |
| Annual allowance | £60,000 | The most that can be paid into your pensions in a year with tax relief, across all schemes and including employer contributions. Unused allowance from the previous three tax years can sometimes be carried forward. | GOV.UK, updated 6 Apr 2026; checked 8 Nov 2026 |
| Tax relief limit | 100% of earnings or £3,600 | You get tax relief on personal contributions up to the higher of your UK taxable earnings for the year or £3,600 gross. | GOV.UK; checked 8 Nov 2026 |
| Money purchase annual allowance | £10,000 | Applies once you take taxable money flexibly from a defined contribution pension. Carry forward can't be used against it. | GOV.UK; checked 8 Nov 2026 |
| Tapered annual allowance | From £260,000 adjusted income | For high earners: the allowance tapers down to a minimum of £10,000 when threshold income is over £200,000 and adjusted income is over £260,000. | GOV.UK; checked 8 Nov 2026 |
| Lump sum allowance | £268,275 | The total tax-free cash most people can take from their pensions in a lifetime, unless they have a protected amount. | GOV.UK; checked 8 Nov 2026 |
| Lump sum and death benefit allowance | £1,073,100 | Covers tax-free lump sums in your lifetime plus certain lump sums paid on death before 75. | GOV.UK; checked 8 Nov 2026 |
Savings and ISAs
| Rule | Figure | What it means | Source, checked |
|---|---|---|---|
| ISA allowance | £20,000 a year | The total you can pay into ISAs each tax year, in one account or split across several. | GOV.UK; checked 8 Nov 2026 |
| Lifetime ISA | £4,000 a year | Counts towards the £20,000. You can open one only between 18 and 39. Withdrawals for anything other than a first home or after 60 usually carry a charge. | GOV.UK; checked 8 Nov 2026 |
| Personal Savings Allowance | £1,000 · £500 · £0 | The savings interest you can earn tax-free outside an ISA: £1,000 for basic-rate taxpayers, £500 for higher-rate and nothing for additional-rate. | GOV.UK; checked 8 Nov 2026 |
| Deposit protection (FSCS) | £120,000 | Per person, per authorised bank or building society. Brands that share one banking licence share one limit. | FSCS; checked 8 Nov 2026 |
Income tax, work, illness and caring
| Rule | Figure | What it means | Source, checked |
|---|---|---|---|
| Personal allowance | £12,570 | The income you can have each year before income tax. It falls by £1 for every £2 of income over £100,000, reaching zero at £125,140. | GOV.UK, updated 1 Oct 2026; checked 8 Nov 2026 |
| Income tax bands | 20% · 40% · 45% | Basic rate on income up to £50,270, higher rate up to £125,140, additional rate above that. Scotland has different bands for earnings. | GOV.UK; mygov.scot for Scotland; checked 8 Nov 2026 |
| Statutory Sick Pay | £123.25 a week | Or 80% of your average weekly earnings, if lower. Paid from the first day of sickness absence for up to 28 weeks. | GOV.UK; DWP rates 2026/27; checked 8 Nov 2026 |
| Carer's Allowance | £86.45 a week | For caring at least 35 hours a week for someone who gets a qualifying disability benefit. | DWP rates 2026/27; checked 8 Nov 2026 |
| Carer's Allowance earnings limit | £204 a week | Earnings after certain deductions. Earning more than this, even by a small amount, can stop the whole payment for that week. | DWP rates 2026/27; checked 8 Nov 2026 |
| Statutory redundancy pay: weekly pay cap | £751 a week | For redundancies on or after 6 April 2026 in England, Wales and Scotland. Counts up to 20 years of service. | SI 2026/310; checked 8 Nov 2026 |
| Tax-free redundancy and termination payments | First £30,000 | Of qualifying termination payments, including statutory redundancy pay. Notice pay and holiday pay are taxed as normal. | HMRC EIM13505, updated 3 Nov 2026; checked 8 Nov 2026 |
| Trading allowance | £1,000 | Gross side income up to this amount doesn't need reporting. Planned to rise to £3,000 from 6 April 2027 if the Finance Bill 2026–27 becomes law. | GOV.UK; checked 8 Nov 2026 |
Gifts and inheritance tax
| Rule | Figure | What it means | Source, checked |
|---|---|---|---|
| Nil-rate band | £325,000 | The part of an estate with no inheritance tax. Fixed at this level by the government. | GOV.UK; checked 8 Nov 2026 |
| Residence nil-rate band | £175,000 | Extra allowance when a home goes to children or grandchildren. Reduced for estates over £2 million. | GOV.UK; checked 8 Nov 2026 |
| Annual gift exemption | £3,000 | Gifts up to this total each tax year are outside your estate. Last year's unused exemption can be carried forward one year. | GOV.UK, updated 8 Nov 2024; checked 8 Nov 2026 |
| Small gifts | £250 per person | Any number of gifts of up to £250 to different people, as long as they haven't had another exemption from you that year. | GOV.UK; checked 8 Nov 2026 |
United States · calendar year 2026
US retirement and tax
Apply from 1 January to 31 December 2026 unless a row says otherwise.
| Rule | Figure | What it means | Source, checked |
|---|---|---|---|
| 401(k), 403(b) and TSP limit | $24,500 | The most you can contribute from your pay in 2026. Employer contributions are on top. | IRS IR-2025-111, 13 Nov 2025; checked 8 Nov 2026 |
| Catch-up, age 50 and over | $8,000 | Extra on top of the $24,500, so up to $32,500 in total. | IRS IR-2025-111; checked 8 Nov 2026 |
| Catch-up, ages 60 to 63 | $11,250 | Replaces the $8,000 catch-up in plans that allow it, for the years you are 60, 61, 62 or 63 at the end of the year. | IRS IR-2025-111; checked 8 Nov 2026 |
| Roth catch-up rule | Higher earners | If your wages from your employer last year were above a threshold the IRS sets each year, your catch-up contributions to that employer's plan must go in as Roth. Ask your plan administrator whether it applies to you. | IRS IR-2025-91; checked 8 Nov 2026 |
| IRA limit | $7,500 | Across all your traditional and Roth IRAs. Roth IRA contributions are limited by income. | IRS IR-2025-111; checked 8 Nov 2026 |
| IRA catch-up, age 50 and over | $1,100 | Extra on top of the $7,500. | IRS IR-2025-111; checked 8 Nov 2026 |
| Annual gift tax exclusion | $19,000 per person | You can give up to this to each person in 2026 without it counting against your lifetime exemption. Tuition and medical bills paid directly don't count. | IRS IR-2025-103, 9 Oct 2025; checked 8 Nov 2026 |
| Estate and lifetime gift exemption | $15,000,000 | The basic exclusion amount for estates of people who die in 2026. | IRS IR-2025-103; checked 8 Nov 2026 |
| Self-employment tax | From $400 net | If your net self-employment earnings are $400 or more, you generally owe self-employment tax and need to file. | IRS; checked 8 Nov 2026 |
| Deposit insurance (FDIC) | $250,000 | Per depositor, per insured bank, per ownership category. Investments such as stocks, bonds and funds aren't covered. | FDIC; checked 8 Nov 2026 |
The IRS sets each year's contribution limits in the autumn before. 2027 limits will be added here once published.
Withdrawals and claiming
Standing rules, not tied to one year, unless a row says otherwise.
| Rule | Figure | What it means | Source, checked |
|---|---|---|---|
| Early withdrawals | Before 59½ | Withdrawals from a 401(k) or IRA before 59½ are generally taxed as income and carry an extra 10% tax, unless an exception applies. | IRS, reviewed 11 Dec 2025; checked 8 Nov 2026 |
| Leaving a job at 55 or older | Age 55 | If you leave your employer in or after the year you turn 55, withdrawals from that employer's plan avoid the extra 10% tax. This doesn't apply to IRAs, so it is lost if the money is rolled into one. | IRS; checked 8 Nov 2026 |
| Plan loans | Up to $50,000 | If your plan offers loans: the lesser of 50% of your vested balance or $50,000, usually repaid within five years. Plans don't have to offer them. | IRS, reviewed 26 Feb 2026; checked 8 Nov 2026 |
| Hardship withdrawals | Taxable | If your plan allows them: taxed as income unless from a Roth account, may carry the extra 10% tax, and can't be paid back. | IRS, reviewed 26 Feb 2026; checked 8 Nov 2026 |
| Required minimum distributions | 73 · 75 if born 1960+ | The age you must start taking money from traditional IRAs and most workplace plans: 73 if born 1951 to 1958, 75 if born in 1960 or later. The rule for people born in 1959 is still being clarified. You can usually delay workplace plan withdrawals while still working there. | Congressional Research Service IF12750, 29 Aug 2024; checked 8 Nov 2026 |
| Social Security full retirement age | 67 | For anyone born in 1960 or later. You can claim from 62, at about 70% of your full benefit. | SSA; checked 8 Nov 2026 |
| Delaying Social Security | +8% a year to 70 | Each year you delay after full retirement age adds 8% to your benefit, for people born in 1943 or later. The increases stop at 70. | SSA; checked 8 Nov 2026 |
| Medicare | From 65 | Eligibility generally starts at 65, with a seven-month initial enrollment period around your birthday month. | Medicare.gov; checked 8 Nov 2026 |
Already announced
Changes coming up
- 6 Apr 2027 · UK
Pensions and inheritance tax. Most unused pension funds and pension death benefits will be included in the value of an estate for inheritance tax.
- 6 Apr 2027 · UK
Savings income tax. Tax rates on savings interest outside ISAs rise by 2 percentage points. The cash ISA limit stays at £20,000.
- 6 Apr 2027 · UK
Trading allowance. Planned rise from £1,000 to £3,000, subject to the Finance Bill 2026–27 becoming law.
- 6 Apr 2028 · UK
Minimum pension age. Rises from 55 to 57. State Pension age finishes rising to 67 for people born after 5 March 1961.
- Apr 2029 · UK
Salary sacrifice. National Insurance relief on pension contributions made through salary sacrifice is capped at £2,000 a year.
- 6 Apr 2029 · UK
Lifetime ISA. A new First Time Buyer ISA replaces the Lifetime ISA for new savers. Existing Lifetime ISA holders are expected to keep their accounts.
Using these figures
What this page can and can't tell you
These are headline figures. Your own State Pension, benefits and tax depend on your record and circumstances, so use them to understand the rules, then check your own position: your State Pension forecast on GOV.UK, your Social Security statement at SSA.gov, and your pension or plan provider for anything scheme-specific.
Figures are checked against official sources and dated. They are reviewed after each UK Budget and each April, and when the IRS publishes new limits. If a figure here differs from an official source, the official source is right.
Corrections. If you spot a figure that is out of date or wrong, tell us through the contact page or at support@slowmoneymovement.com. We correct it, record the change and the date here, and log it on our corrections page.
This page is for general education. It isn't regulated financial, tax or legal advice. If you are in financial difficulty, free debt advice is available from StepChange, National Debtline and Citizens Advice in the UK, or a nonprofit credit counselor through the NFCC in the US.
Last checked 8 November 2026 by Mel G. Prosper. Sources are linked beside each figure.