What’s primary protection?

 

This was introduced in 2006 for anyone with over £1.5m in benefits who wanted to continue contributing into their pension. They were given their own lifetime allowance based on their fund value at 6 April 2006 eg someone who had £1.8m in pensions would have had a lifetime allowance of 120% (ie £1.8m ÷ £1.5m = 120%).

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