Can I claim tax relief on my pension contributions?

Yes, you may be eligible to claim tax relief on your pension contributions. HMRC offers tax relief to encourage saving for retirement. The amount of tax relief you can claim depends on your individual circumstances and the type of pension scheme you are contributing to. For personal and workplace pensions, tax relief is based on the highest rate of income tax you pay. Basic rate taxpayers receive 20% tax relief, while higher and additional rate taxpayers can claim 40% and 45% relief, respectively. If you have a defined contribution pension scheme, tax relief is usually granted automatically through the "relief at source" method. If you contribute to a defined benefit scheme, you may need to claim tax relief by filling out a Self-Assessment tax return. Remember to keep track of your pension contributions and seek advice from a financial advisor or HMRC to understand your specific entitlements.