Tapering Annual Allowance
I have a case where it's been calculated (via Cashcalc) that for £3,000 salary increase, their pension contribution limit reduces by £1,000. They're a high-earner and between the £150,000 and £210,000 levels.
So it stands to reason that we can say, generally, that 33.33% of one's pay rise is equal to the contribution reduction.
But does anyone know how/why that math works?
It's bugging me!