Standard Life has revealed transfers between a defined benefit pension scheme and a personal pension could cause members to lose enhanced protection.
HM Revenue and Customs has confirmed people can split pension transfers and still keep enhanced protection.
Confusing protection application forms published by Her Majesty's Revenue and Customs (HMRC) has resulted in nearly a third of applications being rejected, according to the latest newsletter from the department.
Enhanced protection forms published by Her Majesty's Revenue and Customs (HMRC) are causing confusion among scheme members and advisers.
With less than a month until A-Day, the Association of British Insurers (ABI) is lobbying the Government to release final details and clarification on a number of outstanding issues and regulations.
With less than a month until A-Day, the Association of British Insurers (ABI) is lobbying the Government to release final details and clarification on a number of outstanding issues and regulations.
Proposals to extend the transitional protection rules to prevent people losing either life cover or enhanced protection have been revealed by HM Revenue & Customs (HMRC).
Differences of opinion over the effects of provisions in the Finance Bill by two major providers has highlighted the difficulty of interpreting proposals set out in the legislation.
IFAs will not have to hold a G60 qualification when advising clients on enhanced protection, even though it could effectively force clients to leave their corporate pension schemes.
People opting for enhanced protection post A-day could face a £3,000 fine if they fail to tell the Inland Revenue they have swapped to primary protection, warns industry expert Steve Bee.