7172019 docs_techtalk-2015-09 (12)

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12 techtalk

Whilst at the time of writing we donrsquot have the technical

details HMRC pension schemes newsletter 70 confirmed

that there will be the same options as in 2014 with the same

conditions The only difference will be the application process

and deadlines which are yet to be decided however there is

a suggestion that the time limits may be removed altogether

Depending on the value of their funds as at 5 April 2016

clients have up to five choices Individual Protection 2016

Fixed Protection 2016 both forms of protection or no

protection In addition clients over their minimum retirement

age could also consider the option of crystallising benefits

before 6 April 2016

Letrsquos start with an overview of the two protection options we

expect to be available

LIFETIME

ALLOWANCEPROTECTION 991251

READY FOR

ANOTHER ROUNDChris Jones

The lifetime allowance reduces again from

6 April 2016 to pound1m accompanied by another

round of protection A further reduction means

many more clients will be affected and in need

of advice We look at the options available