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News - NHS Pension - deadline for individual protection fast approaching

Date: 17/03/2017

The Clock is Ticking…. what do you need to do?

Individual Protection 2014 Deadline 5th April 2017

Thanks to Paul Gordon for sharing this update with FDA members.

The NHS Pensions Agency are arguably under more pressure than ever before with more and more information required by consultants, accountants and advisers at a time of increasing complexity and lower allowances.

The Lifetime Allowance has now reduced again to just £1m which is likely to see a number of GPs and consultants paying recovery charges of at least 25% on the excess in retirement.

There is some good news but a deadline is fast approaching.  Depending upon the level of your benefits as of the 5th April 2014 it may be possible to secure protection of up to £1.5m which would potentially save in excess of £6,000 per annum in tax after retirement.

If your benefits exceeded £1.25m as of the 5th April 2014 using the following calculation, you are potentially able to secure Individual Protection 2014 which will protect a greater allowance than is now available.

                (NHS Pension x 20) + Lump Sum + Private Pension Fund Value


It is essential that if you are likely to be impacted by the reduced allowance you have secured Individual Protection 2014 even using estimated figures ahead of the deadline as HMRC will not accept applications for the protection after the deadline.

The following link is to the HMRC online system:

 A specific request for a valuation can now be made directly to the NHSPA although there is also online access which will outline whether you are likely to be impacted by the reduced allowance and subsequent need for protection.

You will need to register and will receive a password within 7 days which will enable access to the information stored with the NHSPA.  Please note that in order to secure a specific valuation for the purposes of Individual Protection a charge of £120 may be applied by NHSPA and delays are likely to increase ahead of the April deadline for securing the protection.

 Paul Gordon –




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