Government proceeds with MPAA cut

Trustees Agenda posted on 14 July, 2017

The Government has confirmed it will reduce the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000, and the reduction will be retrospective from April this year.

Former Pensions Minister, Steve Webb, called the move "arrogant" and said "Cutting the MPAA is an unnecessary measure in the first place, but it is particularly unacceptable to do so with retrospective effect."