There are some government pension protection schemes available to help savers affected by the reduction to the lifetime allowance pension savings limits.
Schemes such as Fixed Protection and Individual Protection can help restore your lifetime allowance to previous higher figures, provided certain criteria are met. This is a complex area and one where sadly, many savers can come unstuck.
To ensure you do not face significant tax charges, you should speak to an expert with a thorough understanding of the NHS pension. For more information, please contact one of our advisers on 020 7252 5765.
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.