HMRC has updated its guidance on pension savings and lifetime allowance protection to reflect the introduction of individual protection 2014.
The new guidance allows members of registered pension schemes to protect pension savings built up before 6 April 2014 from the lifetime allowance charge, subject to a maximum of £1.5m.
Although individual protection 2014 operates from 6 April 2014, taxpayers cannot apply until August 2014.
The guidance is available at http://www.hmrc.gov.uk/pensionschemes/pension-savings-la.htm.