City Trustees - part of Mattioli Woods



News and Media

24 April 2015

Pensions Perspective: Does taking a dependant's flexi-access restrict the ability to make pension contributions?

I understand that taking income for the first time after April 2015 will automatically place a client into flexi-access, and the client will then be subject to the new money purchase annual allowance rules. What if the income is the result of a dependant's flexi-access pension?

Good question, but I can confirm that a dependant's flexi-access drawdown will not trigger the money purchase annual allowance rules unless the dependant is taking flexi-access drawdown or an uncrystallised funds pension lump sum from their own pension.

 

Pension Perspective is a weekly feature from City Trustees, covering questions that our experienced sales and technical teams have received from advisers. The Q&A covers a range of subjects including property, pension contributions, protection, auto-enrolment and more.

City Trustees operates a free technical helpline for advisers for support with pension challenges. Tel: 0116 240 8731 or email: technicalhelp@citytrustees.co.uk.

 

< Back to News

City Trustees is a trading name of Mattioli Woods plc. For news updates on the Group, please visit our central News & Media on the Group website.