HM Revenue & Customs (HMRC) is aiming to bring its annual pension calculator back online in July after taking it down in April following complaints from Royal London it was giving savers wrong information.
HMRC said it has been working to update the calculator and is aiming for this to be available to use from Friday 6 July.
According to Royal London the HMRC website was getting annual allowance calculation wrong, in some cases for both 2017/18 and 2018/19.
This could lead to individuals wrongly believing they should stop saving into a pension because they have exceeded their annual limit.
Sir Steve Webb, director of policy at Royal London and former pensions minister, said "It is astonishing that it will have taken HMRC more than two months to fix their own calculator, when many private companies have had working calculators on their websites all the time.
"This shows how the annual allowance system is absurdly complex and needs simplifying. Let us hope that this new version has been properly tested, unlike the previous one."
Under current annual allowance rules most taxpayers' pension contributions of up to £40,000 a year qualify for tax relief.
But since 2016/17, higher earners have faced a reduced allowance which can fall to as little as £10,000 a year for those on the highest incomes.
The impact of this change is reduced by the ability of taxpayers to 'carry forward' unused annual allowances from up to three years earlier, Royal London said.
One Royal London customer who used the site was told that he was limited to £10,000 in pension contributions for 2018/19 when the correct figure was around £35,000.
FTAdviser reported in May that financial advisers who have been using the calculator since at least September should recheck the figures.
maria.espadinha@ft.com
