Introduced when the LTA reduced to £1.5m on 6^th April 2012

People with primary or enhanced protection could not apply

Must apply before 6^th April 2012

This protected benefits up to £1.8m and a PCLS of 25% of £1.8m

Rules:

• No DC pension contributions after 6^th April 2012
• Accrual within a DB pension must cease by 5^th April 2012, but benefits could be revalued by inflation
• No new registered pensions can be started after 5^th April 2012, other than to accept transfer of existing pension rights.