Have you surrendered your 'excess rights'?

Under paragraph 12(5) schedule 36 FA 2004 you cannot give notice of an intention to rely on enhanced protection where your uncrystallised pension rights on 5 April 2006 are excessive. Excess rights will arise whenever the value of your pension rights for an employment are greater than the value of the MPP for that employment. Such excess rights must be surrendered in accordance with the Regulations before you can notify enhanced protection.

You cannot apply for enhanced protection until you surrender your excess rights in accordance with the Regulations

Refer to the Registered Pension Schemes Manual RPSM03104032 for further guidance on surrendering your excess pension rights. You can access the manual using the link in the left hand side bar.