Fixed Protection 2014: IMPORTANT, Action may be Required by 5/4/2014

With effect from 6/4/2014 the Lifetime Allowance (the amount you are allowed to accumulate tax-free in UK pension schemes) is being reduced from £1.5m to £1.25m.

To protect those with pension funds that exceed – or are likely to exceed – £1.25m, another form of protection has been introduced, called Fixed Protection 2014, which preserves the present £1.5m Lifetime Allowance post 5/4/2014. If, however, any pension contributions are paid/earned after that date then Fixed Protection 2014 will be lost.

If you already have other forms of protection – Primary, Enhanced or Fixed – then it is unlikely you will be affected by the reduction to £1.25m and will not normally be able to apply for Fixed Protection 2014.

Fixed Protection 2014 can be applied for online using the following link. There is also a useful tool for checking if you think you may be affected.

A paper version can also be downloaded here, together with some accompanying notes.


Fixed Protection 2014 MUST be applied for by the deadline of 5/4/2014. As the form has to be completed by the individual, Redswan Pensions CANNOT apply for Fixed Protection 2014 on behalf of its clients and you should speak to your usual financial adviser if you feel this important change is likely to affect you.

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