As of 6 April 2016, yet another change came into effect regarding how much an individual can pay each year into a registered pension scheme. This is known as the pension contributions annual allowance. The change impacts individuals with adjusted income for the tax year above £150,000. When that happens, the tapered annual allowance for pension contributions will be introduced. This means for that for every £2 of adjusted income above the £150,000 limit, the annual allowance will be reduced by £1. However, no matter taxable income levels, each individual will, in most circumstances, be allowed to pay a minimum contribution of £10,000.