Money Purchase Annual Allowance

Moots2024

A very basic query. Please bear with me.

Am I correct in my understanding that the MPAA applies as a limitation on payments INTO a pension pot? I am retiring and with no intention to be making any further payments into any pension pots of any kind. Given that am I correct in thinking that the MPAA is not something I need concern myself with?

Many thanks. 

Dazed_and_C0nfused

Moots2024 said:

A very basic query. Please bear with me.

Am I correct in my understanding that the MPAA applies as a limitation on payments INTO a pension pot? I am retiring and with no intention to be making any further payments into any pension pots of any kind. Given that am I correct in thinking that the MPAA is not something I need concern myself with?

Many thanks. 

Yes, although it only limits contributions to a defined contribution scheme, not defined benefit (final salary/CARE) schemes.