On 28 February 2022 HMRC published new guidance for public service scheme members with enhanced or fixed protection.
Lifetime allowance is the total benefits you can build up from all registered pension schemes without incurring a tax charge. Since the lifetime allowance was introduced, HMRC has made a number of different forms of lifetime allowance protections available to members to allow them to take pension benefits that are more than the lifetime allowance.
This guidance relates to members who will be affected by the changes to public service pension schemes as a result of the McCloud judgment and may hold or have held enhanced or fixed protection from lifetime allowance charges.
If you believe you may hold or have held enhanced or fixed protection from lifetime allowance charges, you should read the updates on our lifetime allowance page urgently before 31 March 2022.
The guidance can be found in the section titled 'Closure of the 1995/2008 Scheme and the move to the 2015 Scheme'.
If you joined a public service pension scheme on or before 31 March 2012 and you were a member of the scheme on or after 1 April 2015, or you left service after 31 March 2012 but returned within 5 years, you will be affected by the changes to public service pension schemes as a result of the McCloud judgement. You can find out more about the changes and if you’re affected on our Changes to public service pensions web hub.