Money purchase pension annual allowance penalties – pick a number - Pembroke Financial

Money purchase pension annual allowance penalties – pick a number, any number.

Freedom of Information (FoI) requests have highlighted a lack of HMRC’s knowledge about how many people have been hit with pension annual allowance penalties and the complexities around finding out. The Money Purchase Annual Allowance (MPAA), which effectively sets the tax-efficient ceiling on annual pension contributions, used to be a subject of little interest, even among pension professionals.