The Government published its response to the consultation on the protections  that will be available following the reduction in the lifetime allowance on 6 April  2014. The Government has confirmed the introduction and details of  "Individual Protection 2014", which will give individuals greatest flexibility than  Fixed Protection 2014. Individuals can apply for Individual Protection up to 5  April 2017 if they have pension savings of greater than £1.25 million on 5 April  2014. It is expected that, unlike Fixed Protection 2014, Individual Protection  2014 will not be lost if further pension savings are made, but savings in  excess of the lifetime allowance will be subject to a lifetime allowance charge.  The Government has said that it will work with the pensions industry to  monitor the application of Individual Protection and will be publishing draft  guidance in due course.   

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