MPAA suitability pressures compounded by Covid

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

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 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 int...

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