Take your pension but avoid the Money Purchase Annual Allowance cap

PLEASE NOTE - The Money Purchase Annual Allowance was increased to £10,000 in April 2023. The rest of this video remains correct.

In times of crisis, a pension pot might be a very tempting solution to a need for increased household income, but once you’ve taken an income, the Money Purchase Annual Allowance is triggered.

This video explains how just taking tax-free cash can avoid the MPAA being triggered and enable you to continue to contribute up to £40,000 a year.

Early flexible pension withdrawals & the emergency tax headache –    • Early flexible pension withdrawals & ...  
The Money Purchase Annual Allowance (MPAA) explained:    • The MPAA (Money Purchase Annual Allow...  
The Pension Annual Allowance explained:    • The Pension Annual Allowance explaine...  

📗 Buy my new book: The Retirement Café Handbook – Nine Accelerators for a Successful Retirement: https://amzn.to/3Q686I8

You may enjoy other videos in the pensions playlist -    • Pensions  

Thanks for checking out my YouTube channel - I’m Justin King and my aim is to help people to live successful lives. That often involves understanding your money.

If you enjoy this video, please press the like button to help more people like you find my channel.

If you're planning your retirement and want to make the best use of your wealth to provide for your family throughout retirement and beyond, or work out how best to pay for a loved one’s care, I may be able to help you.

As a Chartered Financial Planner at boutique retirement planning practice, MFP Wealth Management, I help successful people retire with complete confidence. To explore whether I could help you, get in touch at https://www.mfpwealthmanagement.co.uk

Get my weekly newsletter: https://bit.ly/MFPnews
Check out my podcast: https://www.theretirementcafe.co.uk/

Connect with me:
On Twitter:   / justinkingcfp  
On LinkedIn:   / justinking-online-retirement-planner-ifa  

This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!