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2016 protection + state pension top ups
kezzy8310
Posts: 4 Newbie
Hi Team,
In the next few years, I might be lucky enough to apply for 2016 protection to allow my pension's Life Time Allowance to be upto £1.25m.
One of the rules is that i can not contribute to a 'registered pension'. Could someone tell me if topping a state pension is a registered pension...and do you have a reference for it. I cannot find any info on it.
Thanks.
In the next few years, I might be lucky enough to apply for 2016 protection to allow my pension's Life Time Allowance to be upto £1.25m.
One of the rules is that i can not contribute to a 'registered pension'. Could someone tell me if topping a state pension is a registered pension...and do you have a reference for it. I cannot find any info on it.
Thanks.
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Comments
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You're looking for something that doesn't exist.kezzy8310 said:Hi Team,
In the next few years, I might be lucky enough to apply for 2016 protection to allow my pension's Life Time Allowance to be upto £1.25m.
One of the rules is that i can not contribute to a 'registered pension'. Could someone tell me if topping a state pension is a registered pension...and do you have a reference for it. I cannot find any info on it.
Thanks.
The State Pension is not a "pension scheme".
It's a benefit paid by the government based on your NI record.1 -
No, the state pension isn’t a registered pension.kezzy8310 said:Hi Team,
In the next few years, I might be lucky enough to apply for 2016 protection to allow my pension's Life Time Allowance to be upto £1.25m.
One of the rules is that i can not contribute to a 'registered pension'. Could someone tell me if topping a state pension is a registered pension...and do you have a reference for it. I cannot find any info on it.
Thanks.
More importantly, why do you think you might be able to apply for 2016 protection?If you can do, you could have done so any time since April 2016. You post implies that you can’t apply at present but will be able to do so soon. What has changed?I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.1 -
I have a private pension that i might apply for 2016 protection for.0
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Why don’t you do so now?kezzy8310 said:I have a private pension that i might apply for 2016 protection for.I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0 -
I think you may have misunderstood the protection if you haven’t applied already!2
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