The annual allowance is currently £60,000 a year. You can speak to your pension provider or administrator for more details on how this works.

Once you begin taking taxable money out of your pension pot using pension freedoms, you may be subject to the money purchase annual allowance (MPAA).

10 июл. 2024 г. · The money purchase annual allowance (MPAA) is a special restriction on the amount you can pay into your pension and still receive tax relief ...

Your annual allowance is the most you can save in your pension pots in a tax year (6 April to 5 April) before you have to pay tax.

The MPAA (money purchase annual allowance) was introduced with pension freedoms and this limits the amount of money which can be contributed to a money ...

6 апр. 2024 г. · The money purchase annual allowance (MPAA) restricts how much money you can pay into your defined contribution pension tax-free.

The MPAA is £10,000 for the 2024/25 tax year. Remember that the MPAA is an allowance within an allowance: if you had an annual allowance of £60,000, you could ...

7 мая 2024 г. · Key facts. The money purchase annual allowance is currently £10,000. What are the main triggers for the money purchase annual allowance?

The MPAA reduces the amount that can be contributed to your money purchase pensions in any one tax-year while still benefiting from tax relief to £10,000 ( ...

As per the recent changes to legislation the Money Purchase Annual Allowance is £10,000. This change is effective from 06 April 2023.