HMRC extends transitional protection on life cover

The rules relate to members of schemes who have applied for enhanced protection because their fund is over the lifetime allowance limit, but also have a regular premium term assurance life policy as part of their pension. Under the original rules, enhanced protection could be lost if the member continued to make contributions to the pension scheme in order to fund the premiums of the life policy, which means they would either have to lose life cover or the enhanced protection. Similarly, individuals with enhanced protection may also belong to schemes which include stand-alone entitlement...