Fixed protection

Resource type: Glossary Item

Status: Maintained

Transitional relief available to a member of a registered pension scheme (www.practicallaw.com/5-201-6474) who expects the value of his pension savings to exceed £1.5 million when he retires (and who has not already claimed primary protection (www.practicallaw.com/4-204-0648) or enhanced protection (www.practicallaw.com/4-204-0653)). A member who has claimed fixed protection will not incur a lifetime allowance charge (www.practicallaw.com/8-507-1314) on any of his benefits that exceed the standard lifetime allowance (www.practicallaw.com/8-201-6477). The member must have given notice to HMRC (www.practicallaw.com/6-200-6399) of his intention to rely on fixed protection before 6 April 2012.

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  • Resource ID: 6-507-1857
  • Products:  Competition, PLC Arbitration, PLC Cross-border, PLC EU, PLC Glossary, PLC UK Commercial, PLC UK Competition Law, PLC UK Construction, PLC UK Corporate, PLC UK Dispute Resolution, PLC UK Employment, PLC UK Environment, PLC UK Finance, PLC UK Financial Services, PLC UK Pensions, PLC UK Private Client, PLC UK Property, PLC UK Public Sector, PLC UK Share Schemes & Incentives, PLC UK Tax
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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