Pensions tax: fixed protection 2014 and individual protection 2014 | Practical Law
This note considers the two forms of transitional relief created for individuals who might have been adversely affected by the reduction in the standard lifetime allowance for pension saving from £1.5 million to £1.25 million that took effect in April 2014. The note summarises the requirements that individuals had to satisfy to claim fixed protection 2014 or individual protection 2014 and explains how these forms of protection operate following the abolition of the lifetime allowance.