Nine In Ten Brits Don’t Know Their Pension Tax Relief Rate as Tax Year Deadline Approaches, PensionBee Research Reveals

Almost nine in ten Brits (88%) do not know the rate of tax relief they receive on pension contributions, according to new research from PensionBee, a leading online retirement savings provider, published just weeks before the end of the 5 April tax year deadline.

A nationally representative survey of 1,000 UK adults aged 18 to 66, conducted in March 2026, found that just 12% of respondents know the exact rate of tax relief they personally receive on their pension contributions.

Three quarters of Brits (75%) are in the dark about the tax relief they receive on their pensions. Almost a third (31%) said they were not aware that pension contributions receive tax relief at all, while a similar proportion (34%) said they knew they received tax relief but did not know the rate. A further 10% said they were unsure, while 14% said they do not currently contribute to a pension.

With the end of the tax year fast approaching, the findings suggest many savers may be missing a valuable opportunity to boost their retirement savings through additional pension contributions that benefit from tax relief. For higher and additional rate taxpayers in particular, this can also include claiming extra relief through Self Assessment – something PensionBee’s previous research has highlighted many people fail to do, leaving significant sums in unclaimed tax relief each year.

Some savers considering pension top-ups before the tax year end

Ahead of the tax year deadline, some savers are considering boosting their retirement savings. Around one in five (20%) said they plan to make an additional pension contribution before 5 April, while 9% said they have already topped up their pension this tax year.

However, nearly half of respondents (48%) said they do not currently plan to make an additional contribution, 10% said they do not currently contribute towards a pension and 13% said they were unsure.

How Brits would invest spare savings before the tax year end

The research also highlights the range of ways people consider using spare savings. When asked where they would be most likely to invest extra money before the tax year ends, respondents most commonly chose savings accounts (35%) and ISAs (30%), highlighting the continued popularity of tax-efficient and easily accessible savings options.

Other choices included paying down a mortgage (12%) and making pension contributions (11%), suggesting that while many people prioritise short-term or flexible savings, a proportion are also considering using the tax year deadline as an opportunity to boost their retirement savings. A further 6% said they would not invest the money and a final 6% said they were not sure.

Awareness gap around pension tax perks

The findings build on earlier research from PensionBee highlighting gaps in awareness around pension tax incentives. Previously, PensionBee research found that many self-employed workers without pensions were unaware they could receive tax relief on contributions, despite being open to saving for retirement.

Lisa Picardo, Chief Business Officer UK at PensionBee, said: “Pension tax relief is one of the most valuable incentives available to UK savers, yet our research shows that most people don’t fully understand how it works – or even that they benefit from it.

“With the end of the tax year approaching, it’s a good moment for savers to review their finances and consider whether they could make an additional pension contribution. Even a small top-up can receive a boost through tax relief, helping retirement savings grow over time. For those with access to salary sacrifice through their workplace, contributing this way can also bring additional tax and National Insurance savings, although the rules are expected to change in the future.

“While savings accounts and ISAs are often the first options people think of, pensions remain one of the most important tax-efficient ways to invest for the long term. Improving awareness of these benefits could help more people make the most of the incentives available to them.”

PensionBee has its Pension Tax Relief Calculator to see how much tax relief savers could get on their pension contributions.