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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Topics

Administering Pension SchemesAdministering Pension Schemes (http://pensions.practicallaw.com/8-205-7953)
Members, Benefits and Pension SharingMembers, Benefits and Pension Sharing (http://pensions.practicallaw.com/9-103-1341)
Pension TrusteesPension Trustees (http://pensions.practicallaw.com/4-207-2074)
Tax and Accounting: PensionsTax and Accounting: Pensions (http://pensions.practicallaw.com/8-103-1346)

Practice note: overview

Auto-enrolment and new employer pension duties: overview Auto-enrolment and new employer pension duties: overview (http://crossborder.practicallaw.com/topic4-500-1097)
Pensions tax: overview Pensions tax: overview (http://crossborder.practicallaw.com/topic6-204-0440)

Practice notes

Pensions tax: fixed protection and new 2014 protections from a lifetime allowance charge Pensions tax: fixed protection and new 2014 protections from a lifetime allowance charge (http://crossborder.practicallaw.com/topic0-524-8086)
Pensions tax: transitional protection Pensions tax: transitional protection (http://crossborder.practicallaw.com/topic1-208-3955)
Reducing the annual and lifetime allowances for pension saving Reducing the annual and lifetime allowances for pension saving (http://crossborder.practicallaw.com/topic5-503-6633)

Glossary

Enhanced protection Enhanced protection (http://crossborder.practicallaw.com/topic4-204-0653)
Lifetime allowance Lifetime allowance (http://crossborder.practicallaw.com/topic8-201-6477)
Lifetime allowance charge Lifetime allowance charge (http://crossborder.practicallaw.com/topic8-507-1314)
Primary protection Primary protection (http://crossborder.practicallaw.com/topic4-204-0648)

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