Autumn Statement 2016: Money Purchase Annual Allowance cut

The annual allowance limit applies to individuals who have flexibly accessed their pension benefits. The original limit of £10,000 was introduced in April 2015 to stop people claiming further tax relief on any new contributions made to their pots. The new limit will be applied in April 2017. In the official Autumn Statement document, the government said it "does not consider that earners aged 55 and over should be able to enjoy double pension tax relief, such as relief on recycled pension savings, but does wish to offer scope for those who have needed to access their savings to subsequen...