ENHANCED PROTECTION CERTIFICATES

My enhanced protection certificate states that I am only entitled to 1% tax free. I have read elsewhere that if the figure was below 25% it should have been left blank. It is relevant because the government guidance published on 06/04/2023 states that if one holds enhanced protection but no lump sum protection you can take £375,000. It appears odd that with no protection you can have a high figure but if it states, as in my case, 1% you could take very little. Is this what was intended with the guidance? Can one amend the lump sum protection element?

Hi Tony Ward,
If you hold valid enhanced protection with lump sum protection, you can retain the lump sum protection that is noted on your protection certificate.
This means that you are entitled to a tax-free lump sum at the value of the protected percentage of your pension pots on 5 April 2023.
If you hold valid enhanced protection, but do not hold lump sum protection with it, you are entitled to a tax-free lump sum of up to £375,000.  
Any contributions made after 5 April 2023 will not be included in the calculation for your increased tax-free lump sum.
You should contact your pension provider with regard to whether the box should have been left blank on your certificate.
Thank you. 

Amendments to enhanced protection certificates. Good morning, thank you for your reply. I have now discovered that a friend in a similar situation to me has a much higher percentage of lump sum protection. He had a professional fill in the forms whereas I completed mine myself. I am considering getting a professional to look at my figures. Will you confirm that one can ask for amendments to enhanced protection certificates if a mistake has been made. Kind regards Tony Ward

Hi Tony Ward,

You can see- PTM092100 - Protection from the lifetime allowance charge: protecting Pre-April 2006 pension rights: Amending details

Thank you.