enhanced protection
Introduced by the Finance Act 2004, one of the forms of transitional protection available for members of registered pension schemes who accrued pension rights before 6 April 2006. A member may register with HM Revenue & Customs (HMRC) for enhanced protection whether or not the value of their pension savings exceeded the standard lifetime allowance at 6 April 2006. The effect of having enhanced protection is to remove the lifetime allowance for pension savings accrued before 6 April 2006. But a member with enhanced protection who accrues any further pension benefits after 6 April 2006 automatically loses his claim to enhanced protection. See also primary protection.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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