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Document Is a Pension Credit or Pension Debit tested against the Annual Allowance?

If you have a Pension Debit it is not included for Annual Allowance purposes in the tax year in which the pension share order is implemented. In future tax years, we calculate the opening and closing values using the net pension benefits after the deduction of the Pension Debit.
 
If you have a Pension Credit it is never included for Annual Allowance purposes. HMRC class a Pension Credit as a separate deferred pension and as such there will be no pension input amount as long as the Pension Credit increases solely in line with the Pensions (Increase) Act 1971, currently based on the Consumer Prices Index (CPI).
 
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pension credit, pension debit
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