Thank You

Thank you for contacting us. We will be in touch shortly.

Saturday November 25th, 2017 

News Archive - March 2017

Pension changes for the new tax year

From 6 April the Money Purchase Annual Allowance (MPAA) will reduce from £10,000 to £4,000. "What is the Money Purchase Annual Allowance?", I hear you cry.

The MPAA limits the amount that you can pay into a money purchase pension (like a personal pension or an auto-enrolment scheme). If you exceed this amount then tax penalties will apply.

The MPAA applies to those over 55 who have started to access their pension pot flexibly. This means those who have taken a taxable payment from a pension using Flexi-Access Drawdown, and those who have fully or partially encashed a pension using UFPLS (Uncrystallised Funds Pension Lump Sum). Things that do NOT trigger the MPAA are full encashments under the Small Pots rule (this can be requested for pots of under £10,000), or tax-free cash withdrawals taken without any taxable income.

In pracice, most people do not want to continue paying into a pension once they have started to draw their pension benefits. However, if a person decides to "cash in" a small pension early, then the MPAA may adversely limit their pension contributions in the future if they continue to work. It's best to keep your options open.

Contact Mulberry Financial if you need help with your pension planning.

top of page


The material here is for general information only and is not intended to be relied upon for individual investment decisions. Appropriate independent advice should be obtained before making any such decisions. Mulberry Financial Ltd does not accept any liability for any loss suffered by any user as a result of any such decision.
The information is based on our understanding of current HMRC rules and practices (as at the news article date) which are always subject to change. Taxation and trust advice and Cash ISAs are not regulated by the Financial Conduct Authority. This site is aimed at UK residents only.
Please remember that the prices of shares and other investments can fall sharply. You may not get back the money you originally invested. Past performance is not necessarily a guide to the future.


News archive 2017


Mar | Feb | Jan |

News archive 2016


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2015


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2014


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2013


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2012


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2011


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2010


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2009


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2008


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan |

News archive 2007


Dec | Nov | Oct | Sep | Aug | Jul | Jun | May |