Confusion over pension contribution cap resolved

The Government has moved to resolve the confusion over the amount some people can pay into their pension. Although, not everyone will be happy with the news. Announced in the Budget earlier this year, the change proposed a cut in the amount some people could pay in to their pension. Known as the Money Purchase Annual Allowance (MPAA), it caps the amount some people, who have already drawn money from their pension under the new Pension Freedom rules, can subsequently contribute. The Government proposed a cut from £10,000 to just £4,000. However, ...