MPAA suitability pressures compounded by Covid - Aegon

Aegon is reiterating its call for the £4,000 MPAA limit to increase to £10,000

Hope William-Smith
clock • 1 min read
MPAA suitability pressures compounded by Covid - Aegon
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MPAA suitability pressures compounded by Covid - Aegon

The money purchase annual allowance (MPAA) must increase by at least £6,000 to ensure savers who dipped into their pension for short-term financial relief during the pandemic will not face contribution restrictions, Aegon says.

Aegon said the MPAA continued to pose a "hidden risk" to pension savers over 55 who may have accessed their funds early due to hardship caused by the coronavirus pandemic. The MPAA - initially introduced...

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