Lifetime allowance

I’m going to apply for individual protection 2016, what do I need from you?

You’ll need the value of your pension fund as of 5 April 2016. We can provide you with this on …

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What’s primary protection?

  This was introduced in 2006 for anyone with over £1.5m in benefits who wanted to continue contributing into their …

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What’s enhanced protection?

  This was introduced in 2006 for anyone who was over or could be over (or felt they could go …

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Can I protect my pension pot from the lifetime allowance?

  Over the last few years, the lifetime allowance has been cut several times (it has been reduced in stages …

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When are my pension savings compared against the lifetime allowance?  

  Every time you claim and when your pension schemes start to make payments to you, the value of that …

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Does my State Pension count towards my lifetime allowance?

  No, State Pension benefits are excluded from your lifetime allowance.

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What counts towards my lifetime allowance?

  The lifetime allowance is the total value of benefits that you’ve built up in all your private pensions. So …

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How much are people over the lifetime allowance taxed?

  For anyone in excess of the lifetime allowance, tax is currently charged at 55% if benefits are taken as …

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