Individual Protection

Retirement2026

I took my full 25% tax free allowance of £158k Oct 2015 from my DB scheme. I am due to retire next year and considering taking the full 25% allowance - again from a DB scheme. This will take me higher than the current allowance of £268k.  Should I apply for individual protection or does this not apply to me. Many thanks in advance.

Flugelhorn

I had IP 2016 and it came down to the value of the pensions at some date around 2016 (can't remember when) - and there was a similar one in 2014 (I didn't qualify for that one) - was your pension valued over the threshold at that time?

Retirement2026

No I dont believe it exceeded the threshold - I cashed in my DB pension in 2015 and  the total pot was circa 650K.

DRS1

Presumably you have read this?

Protect your pension lifetime allowance - GOV.UK