Basic rules Flashcards
1
Q
What is the minimum pension age?
A
55
2
Q
When does pension age increase?
A
From 6 April 2028 the normal minimum pension age will increase to age 57
3
Q
What is the current Annual Allowance?
A
£60,000
4
Q
When does annual allowance reduce?
A
Anyone with income over £260,000 will see their annual allowance reduce by £1 for every £2 of excess income.
5
Q
How much is the Money Purchase Annual Allowance?
A
£10,000
