Individuals who didn't opt for transitional protection but who had the right to more than 25% of their benefits value on 5 April 2006 as tax-free cash will still be able to have the higher percentage paid when they take their retirement benefits. They didn't have to register this unless they were also applying for primary or enhanced protection. They can still get the higher tax-free cash amount based on the amount of tax-free cash on 5 April 2006 increased in line with the increases to the lifetime allowance, up to the date they take their retirement benefits. Since 6 April 2012, this increase factor is 1.2 (£1.8m/£1.5m), despite the current lifetime allowance being £1,073,100.
25% of any increase in the value of the plan since 6 April 2006 can also be taken. The value of the plan on 6 April 2006 is adjusted proportionately to take into account the change in lifetime allowance since 6 April 2006.