AA IncomeCalc is an interactive application designed to help individuals estimate the total annual amount of tax relievable pension contributions they are able to pay into their pension schemes in the next tax year. Towers Watson developed AA IncomeCalc in response to the July 2015 Budget announcement of the reduction to both the Lifetime Allowance and Annual Allowances. These changes, in effect reduced the potential amount of tax relievable pension contributions an individual can pay each year, subject to having earnings over new prescribed earnings levels. These new earning levels include both employer and employee pension contributions from both defined contribution and defined benefit schemes, which means many more individuals may be caught by the new limits than ever before. AA IncomeCalc will help you: • to negotiate the complexities introduced by the Government. For instance, the changes first require an individual to work out a ”test” income level, known as “Threshold Income”, only then is it possible to decide whether further investigation is required. • move through all the necessary stages in an easy step-by-step process in a user friendly and logical way. The App gathers readily available earnings information from your PIID, P60 or tax returns. • keep control of your information by never transmitting your data on-line and makes sure that your information never leaves your device so no information can or will be collected about your earnings. • find the right information and point you in the direction of further help at each stage. • Use the app in conjunction with the support programme offered by your employer. To tap into this invaluable resource, download the Towers Watson AA IncomeCalc app today. You can provide feedback through your usual Towers Watson consultant or by emailing us at firstname.lastname@example.org. Please be aware that AA IncomeCalc may collect information about your use of the app on an anonymised basis in order to compile statistics about users' behaviour. This is so that we can better develop our app and provide more content which is of interest to users. The issues are complex and you should not take any action without first reviewing the options offered by your employer and, if necessary, taking specific financial advice. Please be aware that AA IncomeCalc may collect information about your use of the app on an anonymised basis in order to compile statistics about users' behaviour. This is so that we can better develop our app and provide more content which is of interest to users.