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Is the Money Purchase Annual Allowance (MPAA) triggered by drawing Defined Benefit (DB) pensions?
Bob__M
Posts: 8 Forumite
Hi
I'd appreciate some advice please.
I have two Defined Benefit (DB) schemes, an AVC linked to one of the DBs and a number of personal pension (Defined Contribution (DC)) amassed over the years.
I retired and starting drawing both of my DB pensions in May 2020 together with taking the maximum Pension Commencement Tax Free Lump Sums (PCTFLS). I was fortunate in that the AVC linked to one of the DB schemes allowed me to combine the value of the two (DB+AVC) and thereby take all of my AVC as the PCTFLS whilst still protecting the maximum DB pension.
I have not touched any of my personal pensions / DC schemes.
My question is whether my actions in drawing my DB pensions and taking PCTFLSs from those DB schemes will trigger the MPAA for me.
0
Comments
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No - the MPAA is only triggered if you 'flexibly access' benefits from a DC scheme.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!2
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