Answered by Neil Adams
If you have ‘flexibly accessed’ your pension benefits already you are subject to a new £4,000 annual cap on your pension contributions. This is known as the money purchase annual allowance and is designed to prevent ‘pension recycling’.
However, for those who have accessed their pensions through an old branch of income drawdown, known as capped drawdown, they can still put the full £40,000 annual allowance into their pension in any given tax year providing they do not breach the previously agreed cap.
Frequently Asked Pensions Advice Questions
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