In their latest Pension Schemes Newsletter, HMRC have confirmed that the online system for applying for Individual Protection 2016 or Fixed Protection 2016 will be available from the end of July 2016. The online service will also allow pension scheme members to view a history of their previous lifetime allowance protection details.
Anyone wishing to apply for lifetime allowance protection from the end of July 2016, or to view details of their protections will need an Online Services Account with HMRC.
To create an account, or to log in to an existing one, they should go to www.gov.uk/log-in-register-hmrc-online-services.
Anyone who isn’t planning to take benefits before August 2016 should wait and apply for protection using the online digital service from the end of July 2016.
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