▁Ins ured ▁personal ▁p ensions ▁with ▁charges ▁c apped ▁at ▁a ▁low ▁level , ▁and ▁which ▁satisfy ▁certain ▁other ▁conditions , ▁are ▁known ▁as ▁st ake holder ▁p ension . ▁ ▁Cont ribution s ▁Cont ribution s ▁to ▁a ▁P PS ▁can ▁be ▁made ▁either ▁from ▁the ▁individual ▁or ▁from ▁an ▁employ er . ▁An ▁individual ▁can , ▁each ▁year , ▁put ▁in ▁an ▁amount ▁up ▁to ▁the ▁lower ▁of ▁ 1 0 0 % ▁of ▁their ▁earned ▁income ▁or ▁the ▁prev ail ing ▁annual ▁allow ance . ▁The ▁annual ▁allow ance ▁for ▁the ▁tax ▁year ▁ 2 0 0 8 / 0 9 ▁was ▁£ 2 3 5 , 0 0 0 , ▁but ▁it ▁was ▁reduced ▁to ▁£ 5 0 , 0 0 0 ▁for ▁tax ▁years ▁from ▁ 2 0 1 1 / 1 2 ▁and ▁was ▁further ▁reduced ▁to ▁£ 4 0 , 0 0 0 ▁from ▁the ▁ 2 0 1 4 - 1 5 ▁tax ▁year . ▁It ▁is ▁worth ▁not ing ▁that ▁an ▁individual ▁can ▁in ▁fact ▁put ▁in ▁higher ▁amounts ▁if ▁they ▁wanted ▁to , ▁but ▁would ▁not ▁be ▁allowed ▁to ▁claim ▁tax ▁relief ▁on ▁the ▁sur plus . ▁At ▁the ▁other ▁end , ▁low ▁or ▁non ▁ear ners ▁are ▁allowed ▁to ▁contribute ▁£ 3 , 6 0 0 ▁per ▁year . ▁ ▁An ▁employ er ▁can ▁contribute ▁an ▁amount ▁of ▁up ▁to ▁the ▁annual ▁allow ance ▁each ▁year , ▁provided ▁that ▁they ▁can ▁demonstrate ▁to ▁the ▁local ▁inspect or ▁of ▁tax es ▁that ▁this