Hornbuckle urges IFAs to check benefits of fixed protection

Enhanced protection became available after A-Day in 2006, when the lifetime allowance (LTA) for pension contributions became £1.8m. It protected investors whose pension funds may exceed £1.8m through investment growth from punitive tax charges, on the condition they made no more contributions. However, some investors could revoke their enhanced protection, make more contributions and then reapply for fixed protection, Stewart Dick, head of sales at Hornbuckle said. "There is now a window for some of those with enhanced protection but funds worth less than £1.8 million to revoke it,...