Video interview: Richard Parkin on proposed cut to MPAA

Fidelity International head of pensions policy

Julian Marr
clock • 1 min read

Fidelity International head of pensions policy Richard Parkin talks to Julian Marr about the proposed cut to the Money Purchase Annual Allowance (MPAA)

In this short video, Parkin explains the government has always limited the pension tax breaks available to people who have accessed their pension flexibly. The aim of the proposed cut in the MPAA, however, is to stop people "recycling" money from their pension as new pension contributions and effectively generating "free money". In addition to running through the government's proposals, Parkin discusses how effective the measure is likely to prove, whether there are any alternatives and the sort of action advisers should now be commending to theirclients. In last month's Autumn Statem...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

PA360: Crucial advisers can spot all vulnerability characteristics

PA360: Crucial advisers can spot all vulnerability characteristics

‘It is highly likely people in decumulation will have a vulnerability’

Hope Coumbe
clock 26 April 2024 • 1 min read
Inflation shocks driving another long uptick in annuity sales

Inflation shocks driving another long uptick in annuity sales

‘Customers should be careful that this is the right decision for them’

Hope Coumbe
clock 23 April 2024 • 1 min read
Advisers warn market volatility will threaten retirement plans

Advisers warn market volatility will threaten retirement plans

More than half expect clients to postpone or change plans

Isabel Baxter
clock 26 March 2024 • 2 min read