In order to help clients manage or mitigate any potential tax on excess pension funds over the lifetime allowance advisers need to fully understand when and how benefits are tested against the lifetime allowance.
Fixed protection offers valuable protection for funds greater than the standard lifetime allowance. Advisers need to know about the benefit they give clients and an understanding of the impact of losing protection for clients with savings near or above the standard LTA.
Individual protection allows some clients to secure a higher LTA based on the value of their pension benefits when the LTA was reduced in 2014 and 2016. Advisers need to understand the extra protection offered by both versions of individual protection and the benefit for clients potentially impacted by the LTA.
You can find answers to a wide range of popular policy, product and servicing questions in our help and support section.
Issued by a member of abrdn group, which comprises abrdn plc and its subsidiaries.
This website is provided by Standard Life Savings Limited. It describes products and services provided by the abrdn Group (including Standard Life Savings Limited and Elevate Portfolio Services Limited) and the Phoenix Group (including Standard Life Assurance Limited, Standard Life Trustee Company Limited and Standard Life International dac).
The abrdn Group comprises abrdn plc (SC286832) and its subsidiaries. The Phoenix Group comprises Phoenix Group Holdings plc (11606773) and its subsidiaries.
Full product and service provider details are described in the legal information notice.
Wrap Platform, Wrap Personal Portfolio, Wrap ISA and FundZone Platform are all provided by Standard Life Savings Limited, which is part of the abrdn Group.
Standard Life Savings Limited is registered in Scotland (SC180203) at 1 George Street, Edinburgh, United Kingdom, EH2 2LL. Standard Life Savings Limited is authorised and regulated by the Financial Conduct Authority.
Please see your terms and conditions for more information on the use of the Wrap platform.
Wrap SIPP and Wrap Onshore Bond are both provided by Standard Life Assurance Limited, which is part of the Phoenix Group. Standard Life Assurance Limited is registered in Scotland (SC286833) at Standard Life House, 30 Lothian Road, Edinburgh, EH1 2DH. Standard Life Assurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Wrap Offshore Bond is provided by Standard Life International dac, which is part of the Phoenix Group. Standard Life International dac is a designated activity company limited by shares and registered in Dublin, Ireland (408507) at 90 St Stephen’s Green, Dublin. Standard Life International dac is authorised and regulated by the Central Bank of Ireland and subject to limited regulation in the UK by the Financial Regulation Authority. Details about the extent of its regulation by the Financial Conduct Authority are available on request.
The Elevate platform, Elevate ISA, Elevate GIA and Elevate PIA are provided by Elevate Portfolio Services Limited, which is part of the abrdn Group.
Elevate Portfolio Services Limited is registered in England (01128611) at Bow Bells House, 1 Bread Street, London, EC4M 9HH. Elevate Portfolio Services Limited is authorised and regulated by the Financial Conduct Authority.
Please see your terms and conditions for more information on the use of the Elevate platform.
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abrdn plc is registered in Scotland (SC286832) at 1 George Street, Edinburgh, EH2 2LL