The Treasury has rejected calls to change its mind on a planned cut to the money purchase annual allowance (MPAA) due to take effect next month.
From 6 April, savers will see the allowance slashed by 60% from £10,000 to £4,000 in a government bid to stop savers from "recycling pension savings" and benefitting from double tax relief. The ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
