Calculate the scheme specific protected tax free cash amount for money purchase arrangements on or after 6 April 2012.
For those that had a higher than 25% entitlement to tax free cash as at 5 April 2006 within a scheme, this entitlement can be retained subject to this entitlement not being lost. This form of lump sum protection would be lost if a member transfers their rights to another pension scheme and the transfer is not a block transfer. See PTM063150 for issues that arise regarding this protection when a transfer is made, whether or not it is a block transfer.
The results of the tool are illustrative only and are in no way intended to be a recommendation for a particular course of action and do not constitute advice. The results are based on our current understanding of legislation and HMRC practice. But these might change without notice and the tool doesn’t take into account all of the possible circumstances that could impact your clients.
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