Fixed protection for lifetime allowance

In previous bulletins, we reported on provisions in the Bill reducing the lifetime allowance from £1.8 million to £1.5 million from 2012.  Members will be able to opt for ‘fixed protection’ which will allow them to protect benefits up to £1.8 million in certain circumstances.  Draft regulations have now been published dealing with the information that individuals will need to provide in order to apply for fixed protection.