Consultation outcome

Pensions tax relief: individual protection from the Lifetime Allowance charge

This consultation was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

This consultation has concluded

Download the full outcome

Detail of outcome

This document summarises the responses received to the consultation. Following this consultation, the government published updated draft legislation and draft guidance for comment on 10 December 2013. This is to help provide the clarity that employers and pension schemes need to be able to manage the change required for individual protection 2014 and to enable individuals to make informed decisions about their pension savings.

The Government will continue to work with the pensions industry to ensure that the individual protection 2014 regime works in accordance with the policy intent and with the minimum of administrative burdens.

Original consultation

This consultation ran from to


This consultation is about the detail and implementation of an individual protection regime to accompany the reduction in the pensions lifetime allowance.


Consultation description

The Government announced on 5 December 2012 that to support its objective of a system of pensions tax relief that is fair, affordable and sustainable, for 2014-15 onwards the Annual Allowance would be reduced from £50,000 to £40,000 and the Lifetime Allowance would be reduced from £1.5 million to £1.25 million.

This consultation document sets out the framework of how individual protection 2014 will work, and seeks views on aspects of the detail of this protection regime and the draft legislation.