Advisers warned ahead of pensions deadline

Standard Life says advisers have until April next year to register clients who have pension funds approaching or over £1.5m for either primary or enhanced protection. Doing so will protect funds from the LifeTime Allowance (LTA) - a maximum amount that can benefit from tax relief – which, in 2009, will stand at £1.75m. Standard Life says primary protection rules allow members to protect pension rights valued at more than £1.5m as at 5 April 2006. Enhanced protection, it says, gives full protection against any future LTA charge, although means no further contributions can be made. However...