Pension Tax UK 2026/27 — Relief, Annual Allowance, Tax-Free Cash and Drawdown

Money Purchase Annual Allowance (MPAA) UK 2026/27 — What Triggers It and What It Limits

The Money Purchase Annual Allowance (MPAA) is £10,000 in 2026/27. Find out what triggers it, how it affects your pension contributions, and what you can still do after it applies.

Pension information is based on current UK legislation. Pensions are regulated by the FCA and The Pensions Regulator. This is not financial advice — consider consulting an FCA-regulated financial adviser.

The Money Purchase Annual Allowance (MPAA) is a restriction that kicks in once you start drawing flexibly from a defined contribution pension. In 2026/27, the MPAA is £10,000 — down from the standard annual allowance of £60,000. It is designed to prevent people from recycling pension income back into new pension contributions to gain repeated tax relief.

Understanding what triggers the MPAA — and what does not — can save you from an unexpected tax charge.

Standard Annual Allowance vs MPAA

Before MPAA triggered After MPAA triggered
Annual allowance (DC pensions) £60,000 £10,000
Annual allowance (DB pensions) £60,000 Still £60,000 (separate rules)
Carry forward available (DC) Yes (up to 3 prior years) No — cannot carry forward against MPAA
Who is affected All pension savers Only those who have accessed DC pension flexibly

What Triggers the MPAA

Triggers the MPAA:

  • Starting flexi-access drawdown and taking any income from it
  • Taking an Uncrystallised Funds Pension Lump Sum (UFPLS) — taking a lump sum directly from an uncrystallised pot (75% taxable, 25% tax-free)
  • Taking income above the cap from capped drawdown
  • Receiving income from a flexi-annuity

Does NOT trigger the MPAA:

  • Taking your 25% tax-free cash and buying a standard lifetime annuity
  • Taking small pot lump sums (up to three personal pension pots under £10,000 each, or unlimited occupational pension pots under £10,000)
  • Receiving a defined benefit pension (unless also separately triggering MPAA)

The Notification Requirement

When the MPAA is triggered, you must notify all other pension providers within 91 days. This is called a “flexible access statement.” The provider who paid your first flexible access must give you a “flexible access notification,” which you then pass to other pension schemes you contribute to.

Failing to notify other providers is a compliance breach and may result in them inadvertently allowing excess contributions.

Worked Example

Scenario: David, 58, starts drawing £1,000/month from his SIPP in flexi-access drawdown in April 2026. He continues working part-time earning £30,000/year. His employer contributes 5% of salary (£1,500/year) into his workplace DC pension.

After triggering the MPAA:

  • David’s total DC contributions allowance: £10,000/year
  • Employer contribution: £1,500
  • Maximum David can contribute himself: £8,500 (before hitting £10,000)
  • If David also contributes £10,000 personally: total £11,500 — £1,500 over MPAA → annual allowance charge

David should check his employer’s contribution level before making any personal contributions to avoid an unexpected tax bill.

Planning Around the MPAA

If you are approaching retirement and may need to access pension funds flexibly:

  • Use tax-free cash options that do not trigger the MPAA (take 25% cash and use an annuity for the income portion) if you intend to keep contributing significantly
  • Consider whether you have maximised contributions in previous years before triggering the MPAA — carry forward is only available against the full annual allowance, not the MPAA
  • If you have a DB pension, remember contributions into it are assessed differently — you can still build DB entitlement even after the MPAA applies

MPAA and Carrying Forward

One critical distinction: carry forward cannot be used against the MPAA. You can only carry forward unused annual allowance against the standard £60,000 allowance. Once the MPAA applies to your defined contribution pensions, the £10,000 limit is absolute — no carry forward is available to increase it.

This makes it essential to maximise DC contributions (and use carry forward if needed) before triggering flexible access, if you expect to keep working and contributing significantly.

Sources

  1. GOV.UK — Money Purchase Annual Allowance
  2. HMRC — Pension schemes: money purchase annual allowance