LSA and protection for scheme specific tax-free lump sum

leosayer

I received an early retirement quote for my DB scheme which includes the following text:

"Lump sum protection
The lump sum shown in ‘Your benefit options’ has been worked out to include your scheme specific lump sum protection which is held on our records. However, as the legislation for calculating protected lump sums is changing with effect from 6 April 2024, the formula for calculating protected cash is not yet clear. Therefore, the lump sum calculated may be subject to change when you come to retire.

Scheme specific lump sum protection is the protection the Trustees have given you as your lump sum was bigger than 25% of the value of your benefits on 5 April 2006.".
After doing some googling I discovered the article linked below which summarises the situation as follows:

"Unfortunately, HMRC has given no indication of:

• what the fix will look like
• when “later on this year” the regulations will be made
• or what customers with scheme specific tax-free cash entitlement are to do in the interim."

https://adviser.royallondon.com/technical-central/pensions/pension-protection/protection-of-scheme-specific-tax-free-lump-sum/

Anyone care to take a guess as to what the fix might look like?

My tax free cash entitlement across all pensions is greater than the LSA (lump-sum allowance) of £268,275 so I'm keen to know what will happen here.