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Reduction in the MPAA: a sign of things to come?

Sitting here amidst a post-Christmas lull, whilst tucking into a seventh meal comprised of turkey, my mind naturally drifts to the Autumn Statement consultation about reducing the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000 with effect from 6 April 2017.

The one pension topic guaranteed to create a healthy discussion is that of defined benefit (DB) transfers.

After serving six years on the AMPS Committee, three years of which as Chairman, I felt that it was the right time to step down and let someone else take the helm.

Showing my age, one of my all time favourite Motown songs is: “The world is like a great big onion” by Marvin Gaye and Tammi Terrell. I am reminded of this classic at every budget or autumn statement because our pensions world has been growing like an onion – with layer upon layer of complexity added almost every time the Chancellor gets to his feet.

Today saw the release of the ‘Women In Finance’ charter and although I haven’t really been engaged in the production of this, I decided as a woman, maybe I should take a look to see if I was missing out on something that might change my life or the life of my colleagues.

‘Another one bites the dust!’ A tenuous way to start an article I know, but it is in response to the news that another insurance company has decided not to continue in the annuity market (LV=).

  1. Jones-Tinsley: What’s the Revenue got against in specie?
  2. Claire Trott: Retrospective changes could destroy pensions
  3. Mike Morrison: Will Hammond start afresh?
  4. Jones-Tinsley: Cart before horse nonsense has to stop

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