Closing the window on LTA protection

Time is running short for scheme members to protect their pension rights above the lifetime allowance

Pension scheme members have less than two months left to protect pension rights above the lifetime allowance (LTA) from considerable tax liabilities. Among the pension simplification measures announced in 2006 was a lifetime limit on tax-advantaged saving and arrangements for people with large funds to protect themselves against this. Anyone with a fund approaching or more than £1.5m at A-Day (6 April 2006) could benefit from registering for either primary or enhanced protection (or both), and this window is due to close in April. The key difference is that primary protection is only avai...