Peter Hopkins: Why the unloved MPAA isn't all bad

Pension freedoms, among other things, brought us the money purchase annual allowance (MPAA). Perhaps not quite as bad as the tapered annual allowance, but like most limits, it is not much loved. In a nutshell, if you're flexibly accessing a money purchase pension, then you can't get relief on contributions over £4,000.  It's petty, right?  Well perhaps it isn't and only in trying to understand it do we learn something about the nature of incentives built into pension savings. Before the pension freedoms, if you saved into a pension you couldn't take it all out at once. For th...