Multiple Pensions

[VladD]

If I have two pensions, can I keep working and contributing to one while I take 25% of the other when I hit 55?

[dingg]

Yes, but if you increase the payments to the one still adding to they may consider it recycling, but if you increased the amount paid in previous to taking the 25% out you should be OK. I think :-)

[VladD]

Great, thanks.

[Roaringopenfire]

Yep I have a personal pension which I drew tax free cash from (bought a 911) and still pay into my workplace pension, as does my employer.

[VladD]

That confirms it then. Thanks.

[Bobtherallyfan]

Don’t you have to be careful not to trigger the Money Purchase Annual Allowance (MPAA)?

[VladD]

Just had a quick Google:

The MPAA won't normally be triggered if:

You take a tax-free cash lump sum and put your pension pot in flexi-access drawdown but don't take any income from it.

That's what I am planning on doing, so should be OK.