The lifetime allowance reduces again from 6 April 2016 to £1m – Will you be affected by this ?
The answer to this question is complex and you should talk to us about your specific pension. The lifetime allowance for pension funds has been steadily reducing and depending on the value of your pension fund as at 5 April 2016, you may have up to five choices, Individual Protection 2016, Fixed Protection 2016, both forms of protection, or no protection.
In addition to all of this, clients over their minimum retirement age could also consider the option of crystallising benefits before 6 April 2016.
As the this is so complex it is not possible to explore all the options in detail and we need to establish haw the changes will or could apply to you and your pension. Please contact us to arrange a review of your options.