We have previously advised you of the protection scheme that is open to protect large pensions from the new pensions regime that started in April 2007. Under the new rules, there is a cap to the level of a person's pension pot. However, this never previously existed and so the government put transitional rules in place to enable those people with pension pots that exceed the allowance (£1.5m as at April 2006, although following the market falls last year, this is probably considerably lower now!) to be covered by primary or enhanced protection.

The final date for protection registration and approval is approaching (the date is 4th April) and a new registration form, APSS200, has been issued.

If you (or anyone you know) have a pension pot that is over the limit, it is very important that you ensure that protection has been obtained, otherwise there will be a nasty surprise come 5th April.