Anyone who doesn't have enhanced protection, primary
protection, fixed protection 2012 or fixed protection 2014 -
regardless of the size of their benefits.

Any active individual protection 2014 will take precedence, with FP2016 dormant until such time, if ever, that IP2014 is lost.

Lump sum and death benefit allowance (LSDBA)

Before 6 April 2023, no 'relevant benefit accrual' was allowed.

Since 6 April 2023, as long as FP2016 was registered by 15 March 2023 and the protection remained valid on 5 April 2023, relevant benefit accrual can recommence without losing FP2016.

But if FP2016 was registered after 15 March 2023, the protection will be lost if there is any relevant benefit accrual.  

Before 6 April 2023, it was lost if:

• relevant benefit accrual took place, or
• the individual received an impermissible transfer or made a transfer that was not a permitted transfer, or
• a new pension arrangement was started for the individual - although there were a few exceptions (e.g. to accept a permitted transfer).

Since 6 April 2023, FP2016 cannot be lost provided it was registered by 15 March 2023 and had not been invalidated or revoked before 6 April 2023.

However, those who registered FP2016 after 15 March 2023 can still lose protection, as previously.

Only those who had total benefits (crystallised and uncrystallised) valued above £1M on 5 April 2016 and don't have primary protection or individual protection 2014.

Any active enhanced or fixed protection (any version) will take precedence, with IP2016 dormant until the other protection is lost.

The lower of:

• 25% of the value of benefits on 5 April 2016
• £312,500

Lump sum and death benefit allowance (LSDBA)

The lower of:

• the value of benefits on 5 April 2016
• £1.25M

The standard LTA began to rise again from 6 April 2017. Where the standard LTA became higher than the individual’s protected LTA under IP2016, the protection ceased to exist.

Otherwise, IP2016 can only be lost on divorce. If pension benefits are subject to a pension debit, the value of their benefits on 5 April 2016 is recalculated. If the recalculated value drops below £1,073,100 then the protection will be lost.

Anyone who didn't have enhanced protection, primary protection or fixed protection 2012 - regardless of the size of their benefits.

Lump sum and death benefit allowance (LSDBA)

Before 6 April 2023, no 'relevant benefit accrual' was allowed.

Since 6 April 2023, relevant benefit accrual can normally recommence without losing FP2014.

Before 6 April 2023, it was lost if:

• relevant benefit accrual took place, or
• the individual received an impermissible transfer or made a transfer that was not a permitted transfer, or
• a new pension arrangement was started for the individual - although there were a few exceptions (e.g. to accept a permitted transfer).

Since 6 April 2023, FP2014 normally cannot be lost.

The exception to this rule is the unlikely situation where an individual has successfully managed (by concession) to register for FP2014 after 15 March 2023 - they can still lose protection, as previously.

Only those who had total benefits (crystallised and uncrystallised) valued above £1.25M on 5 April 2014 and don't have primary protection.

Any active enhanced or fixed protection (2012 or 2014) will take precedence, with IP2014 dormant until the other protection is lost.

The lower of:

• 25% of the value of benefits on 5 April 2014
• £375,000

Lump sum and death benefit allowance (LSDBA)

The lower of:

• the value of benefits on 5 April 2014
• £1.5M

Only on divorce. If pension benefits are subject to a pension debit, the value of their benefits on 5 April 2014 is recalculated - if this is below £1.25M then the protection is lost.

Anyone who didn't have enhanced protection or primary protection - regardless of the size of their benefits.

Lump sum and death benefit allowance (LSDBA)

Before 6 April 2023, no 'relevant benefit accrual' was allowed

Since 6 April 2023, relevant benefit accrual can normally recommence without losing FP2012.

Before 6 April 2023, it was be lost if:

• relevant benefit accrual took place, or
• the individual received an impermissible transfer or made a transfer that was not a permitted transfer, or
• a new pension arrangement is started for the individual - although there are a few exceptions (e.g. to accept a permitted transfer).

Since 6 April 2023, FP2012 normally cannot be lost.

The exception to this rule is the unlikely situation where an individual has successfully managed (by concession) to register for FP2012 after 15 March 2023 - they can still lose protection, as previously.

Anyone - regardless of the size of their benefits.

No registered tax-free cash - £375,00

Registered tax-free cash - capped at the amount that could have been paid on 5 April 2023

Lump sum and death benefit allowance (LSDBA)

The value of uncrystallised funds on 5 April 2024

Before 6 April 2023, no 'relevant benefit accrual' was allowed.

Since 6 April 2023, relevant benefit accrual can normally recommence without affecting the protection.

Before 6 April 2023, it was be lost if:

• relevant benefit accrual took place, or
• the individual received an impermissible transfer or made a transfer that was not a permitted transfer, or
• a new pension arrangement is started for the individual - although there are a few exceptions (e.g. to accept a permitted transfer).

Since 6 April 2023, enhanced protection normally cannot be lost.

The exception to this rule is the unlikely situation where an individual has successfully managed (by concession) to register for enhanced protection after 15 March 2023 - they can still lose protection, as previously.

Only those who had benefits (crystallised and uncrystallised) valued above £1.5M on 5 April 2006.

No registered tax-free cash - £375,00

Registered tax-free cash - the registered amount x 1.2

Lump sum and death benefit allowance (LSDBA)

£1.8M + (£1.8M x primary protection factor)

Only on divorce. If pension benefits are subject to a pension debit, the enhancement factor has to be recalculated.

Primary protection will be lost if the pension debit reduces the value of the member's pension rights on 5 April 2006 to a figure that's below £1.5M.