Claire Trott: Safeguarding 'enhanced protection' for pension clients

Protecting the protections...

clock • 4 min read

Claire Trott looks at the pension protection regime in her latest article for PA. She urges advisers to carefully monitor clients hard-won enhanced protection and follow strict rules to keep it in place

We are now in a situation where there are seven lifetime allowance protections in place, with only two that are still available to those that qualify, but those can only give you a lifetime allowance of up to £1.25m. This just makes it all the more important to ensure that protections your clients may hold remain in place. The best protection is enhanced protection (EP) but it is also one of the easiest to lose if you aren't careful or if you are just unaware. According to legislation, the ways in which EP is lost is if any of the following occur after 6 April 2006: Relevant b...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Pensions

DB pension transfer activity falls to lowest level in nine months

DB pension transfer activity falls to lowest level in nine months

Transfers fell by almost 12% in April, according to analysis

Jenna Brown
clock 25 May 2023 • 1 min read
The great pensions unlock: Unpicking the chancellor's changes

The great pensions unlock: Unpicking the chancellor's changes

Things sure have changed up here on pensions mountain

Lee Halpin
clock 19 May 2023 • 5 min read
How to help clients navigate the pension consolidation process

How to help clients navigate the pension consolidation process

Consolidating pensions may enable clients to pay less in costs

Pete Hykin
clock 16 May 2023 • 3 min read