Primary protection

Introduced by the Finance Act 2004, one of the forms of transitional protection available for a member of a registered pension scheme (www.practicallaw.com/5-201-6474) who had accrued pension rights before 6 April 2006. A member whose rights were valued at more than £1.5 million at that date could register with HM Revenue & Customs (www.practicallaw.com/6-200-6399) before 6 April 2009 to have those rights protected from a lifetime allowance charge (www.practicallaw.com/8-507-1314) when he comes to retire because they exceed the standard lifetime allowance (www.practicallaw.com/8-201-6477). A member with primary protection gains a personal lifetime allowance that increases until retirement according to the proportion by which his benefits exceeded the standard lifetime allowance on 6 April 2006. See also enhanced protection (www.practicallaw.com/4-204-0653), fixed protection (www.practicallaw.com/6-507-1857) and fixed protection 2014 (www.practicallaw.com/3-537-0805).

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