Pension contributions are among the few genuinely large, entirely uncontroversial reliefs left. Personal contributions get relief at your marginal rate, so for a higher rate taxpayer the effective cost of £100 in the pension is £60 — and the extra relief above basic rate only arrives if you claim it on your return, which is why we ask. For a company director, an employer contribution is usually better still: it is deductible for corporation tax, carries no National Insurance, and is not limited by your salary. The annual allowance caps this, it tapers for high earners, and unused allowance from the previous three years can often be carried forward, which matters in a good year. The trade is real, though: the money is locked away until pension age.