Money purchase annual allowance: every value since 2015
The lower annual allowance that applies to money purchase (defined contribution) pension savings once a person has flexibly taken money from a pension, introduced in April 2015.
HM Revenue and Customs gives 12 values for this rate, from £0 in 2015 to 2016 to £10,000 in 2026 to 2027. Of the 11 year-to-year steps, it stayed the same in 8, went up in 2 and went down in 1. The largest rise from one value to the next was +150.0%, in 2023 to 2024 (from £4,000 to £10,000). The largest fall was -60.0%, in 2017 to 2018, from £10,000 to £4,000. The value in 2025 to 2026 was the same as the one before; ONS CPI inflation for calendar year 2025 was 3.4%. Ten years before the latest value, in 2016 to 2017, it was £10,000.
Money purchase annual allowance
| Tax year | Money purchase annual allowance (a year) | Change on previous value | CPI inflation that calendar year (ONS, D7G7) |
|---|---|---|---|
| 2026 to 2027 | £10,000 | – | not yet published |
| 2025 to 2026 | £10,000 | – | 3.4% |
| 2024 to 2025 | £10,000 | – | 2.5% |
| 2023 to 2024 | £10,000 | +150.0% | 7.3% |
| 2022 to 2023 | £4,000 | – | 9.1% |
| 2021 to 2022 | £4,000 | – | 2.6% |
| 2020 to 2021 | £4,000 | – | 0.9% |
| 2019 to 2020 | £4,000 | – | 1.8% |
| 2018 to 2019 | £4,000 | – | 2.5% |
| 2017 to 2018 | £4,000 | -60.0% | 2.7% |
| 2016 to 2017 | £10,000 | 0.7% | |
| 2015 to 2016 | £0 HMRC's table gives 6 April 2015 to 8 July 2015 — £20,000 9 July 2015 to 5 April 2016 — £0 | 0.0% |
Source: HMRC pension rates.
CPI: ONS series D7G7, for the calendar year the period starts in. About these tables · CSV
Related pages
Sources and receipts
- Pension schemes rates and allowances, HM Revenue and Customs.
Read 2026-10-15. SHA-256
7a60a053f59ecfa10ced0de7afec46b4083bcd98ed9d1e0a6387eadc14c013ce - Consumer price inflation time series (MM23), Office for National Statistics.
File: mm23.csv. Read 2026-10-15. SHA-256
1b78749ea634755b83064d88f4fc6f7dd177e0c41d8b573c9d8172b8d3fff641