Introduced when the LTA reduced to £1.00m on 6^th April 2016

There is no deadline for applying

This protected benefits up to £1.5m and a PCLS of 25% of £1.8m

Rules:

• No DC pension contributions after 6^th April 2016
• Accrual within a DB pension must cease by 5^th April 2016, but benefits could be revalued by inflation
• No new registered pensions can be started after 5^th April 2016, other than to accept transfer of existing pension rights.