Even though the Lifetime Allowance is being abolished, it is still possible to apply on-line for pension fund protection (Fixed Protection 2016, Individual Protection 2016). Eligible individuals will have until 5 April 2025 to apply for FP 2016 and IP 2016.
For further information of FP2016 & IP 2016 and how to apply, please click link below;
https://www.gov.uk/guidance/pension-schemes-protect-your-lifetime-allowance
An application for pension fund protection needs to be completed on-line. To do this the individual needs a Government Gateway account.
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Government Gateway Account
To set up a Government Gateway Account, is relatively straight forward, please click here.
The individual should complete the information as requested (they will need their National Insurance Number and Passport).
Once completed, they will be provided with a 12 digit user ID.
Please note that whenever the individual subsequently logs in, as an extra layer of security, an access verification code is sent to their mobile phone.
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