Deadline approaches for the new lifetime allowance
People with large pension pots, who would like to benefit from fixed protection, you’re not going to want to miss this! HMRC have set the fixed protection deadline for April this year. So people need to review their pensions to make sure they don’t shoot themselves in the foot. The lifetime allowance will be cut from £1.8m to £1.5m therefore it’s not something to miss out on.
The form can be found here, http://www.hmrc.gov.uk/pensionschemes/apss227.pdf, and as it’s the last chance for high net worth’s to protect the value of their retirement funds, swift action is required.