£10000 now according to

https://inews.co.uk/news...ion%20vastly%20reduced.

"Additionally, the amount you can put in your pension once you’ve already withdrawn some has increased – from £4,000 to £10,000.

How this works is those who have started to take money from their defined contribution pension have the amount that can be contribute while still getting tax relief capped. This is known as the money purchase annual allowance or MPAA. Currently the cap is £4,000 and for those who have fully retired and are under 75, the cap is just £3,600 per tax year.

However, this amount has been increased to £10,000. This will help people who had retired, then went back into work later, and found the amount they could save into a pension vastly reduced."

Not sure if the £3600 limit has changed?

OM

According to OBR. What is IFS saying?

The issue is the valuation of that taxpayer-funded final salary pension (The NHS superannuation
scheme has no investment fund). Even at 10x valuation they are underfunded but even so the
value of that pension is over the LTA (actually in some cases more like double the LTA). Hence
every time they get paid they add to their notional pension fund and hence the tax charge, which
mostly isn't a problem because they have such generous pensions, but it is the added trigger to
retire. But then they come back to work as locums via agencies at huge cost to the employer.

When Consultants and GPs (and head teachers) were given those massive pay rises in 2004
this should have been foreseen by G Brown and his mates, but they did nothing. They could have
reformed the NHS superannuation scheme at the same time to set a maximum pension fund value.
Once Any employee reached this value, then no further contributions would be made and the
employee and employer would then pay full NI rates (The NHS scheme is contracted out).
Employees would always be able to pay in a separate SIPP if they wished, and many actually do
if the Portfolio reviews in Investors Chronicle are anything to go by.

I fail to see how you came to that conclusion.

The top 1% who pay 29% Of all income tax do not need pensions anyway. They have all manner
of other assets and savings.

The vast majority of people with an average ?£75,000 in their pension fund(s) and huge
numbers with zero savings at all aren't going to benefit.

This is just a ploy to allow FTSE and other companies to make massive pension payments
to their top people who can them take out 25% tax free before Labour get back in and
slam the stable door shut again.

People over 50 that are economically inactive are in two groups, the ones who have been
made redundant (to save on their pension costs) and those who have made enough to get
out.

The former are in many cases unemployable because they are over the hill and can be
replaced by younger, cheaper employees who pick up new skills more easily.

The latter are not going to return to work unless they are financially forced to.

Do fixed protections retain their 25% tax free limit? Obviously not needed for overall cap but thought there was a suggestion that they did i.e FP 2014 Cap 1.5m gave a Tax free sum of 375k.