The annual limit on the amount of tax-relieved saving an individual can make in a defined contribution (DC) arrangement under a registered pension scheme if they flexibly access their DC funds on or after 6 April 2015 (for example, by taking an uncrystallised funds pension lump sum or designating a flexi-access drawdown fund).

For 2024/25, the money purchase annual allowance remains at £10,000 and pension saving in a DC arrangement that exceeds this limit triggers an annual allowance charge. If the money purchase annual allowance is exceeded, an individual's annual allowance in respect of any further accruals in a defined benefit arrangement is reduced accordingly. (Sections 227B-227G, Finance Act 2004.)