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Document What are Money Purchase Annual Allowance and Alternative Annual Allowance?

For tax year 2015 / 2016 onwards, members who flexibly access a money purchase arrangement in certain circumstances will trigger modified Money Purchase Annual Allowance rules.
 
In these rules if the Money Purchase Annual Allowance limit is exceeded, you will have a reduced alternative Annual Allowance for any remaining defined benefit pension savings, which includes the 1995/2008 Scheme and the 2015 Scheme.
 
If you think this may affect you please refer to the Annual Allowance - Money Purchase and Alternative Annual Allowance fact sheet which is in the how the annual allowance is calculated section of the Annual Allowance page on our website.
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AAA, alternative, MPAVC, Money purchase
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