Section 226 (Retirement Annuity Contract)

In effect, an old form of pension. Prior to 1 July 1988, people not in a pensionable employment (employment where no pension scheme exists or where a scheme exists but was not joined) or people who were self-employed, were able to qualify for tax relief for contributions made to a pension scheme known as a Retirement Annuity under Section 2226 of the Income and Corporation Tax Act 1970.