Danny Tsang
Danny specialises in pensions law and has 20 years' experience in advising on all aspects of pensions and benefits matters. His clients include employers and trustees as well as insolvency practitioners. His practice focuses on advising clients in relation to pension strategy and includes the restructuring of pension schemes such as scheme mergers and changes to benefit structures and de-risking solutions. He also advises on the pensions aspects of corporate transactions, liaising with the Pensions Regulator, whenever necessary, as well as assisting the pensions dispute resolution team on pension dispute matters.
Practice Area
Panel
- Contributing Author
Membership
- Association of Pension Lawyers (secretary, international sub-committee)
- International Pension & Employee Benefits Lawyers Association
1 Contributions by Danny Tsang
PRACTICE NOTES
UK pensions: allowance protections and lump sum and death benefit allowances after lifetime allowance abolition—quick guide
This Practice Note summarises the characteristics of the different forms of allowance protections.
Allowance protections exist in several variants. Their initial role was to curb or eliminate exposure to the lifetime allowance (LTA) charge. With the LTA charge removed on 6 April 2023, and the entire LTA regime abolished from 6 April 2024, the emphasis of protections has shifted to:
the higher lump sum allowance, and the higher lump sum and death benefit allowance, that they can confer—for further information, see What does the protection do?, below
the prospect of a higher tax-free lump sum—for further details, see Lump sum protections, below
HMRC provides a protection look-up facility giving registered pension scheme administrators and practitioners the means to verify whether the allowance protection (or enhancement) a member relies upon is valid for a higher lump sum allowance and/or lump sum and death benefit allowance. Since early 2026, this service—called ‘Check a pension scheme member’s protections and enhancements’—has been available through the Managing Pension Schemes Service...
Pensions
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