Apply For Individual Protection To Save On Life Time Allowance Charges. More detail has been announced on how to apply to protect your NHS Pension Scheme benefits from a life-time pension tax.
Individual Protection was introduced on the back of the reduction in the Life Time Allowance for pensions from £1.5m to £1.25m.
It allows doctors to protect their pension rights (NHS Pension AND private pensions) as at 5th April 2014 - with a maximum protection of £1.5m.
The important thing about Individual Protection is that you can continue to make pension contributions whilst still retaining the protection.
This is likely to be an important Protection for many doctors in Bristol with significant NHS Pensions and/or private pensions.
Do not miss out on this it could save tens of thousands in tax in the long-run!
If you feel that you maybe able to benefit from Individual Protection - please get in touch for a face to face review of your situation on: