Lifetime Allowance / Fixed Protection 2016

[AmandaHolyhead]

I have various personal money purchase pensions with a current value of approx £780,000. No occupational / defined benefit pensions.

I currently earn £90000 and my employer contributes 10% of salary into my pension. No salary uplift if pension contributions not made. My current job is maternity cover so it could end any time, and I have no visibility on whether I will get another job and if I do what the salary will be or whether I will get any employer pension contributions.

I am aged 43, 44 in May, and expect to take my pension at the earliest opportunity when I am 55 in 11 years.

I am pondering whether I should apply for Fixed Protection 2016 which I understand will freeze my lifetime allowance at £1.25m if I dont make any further pension contributions after this month.

A key question here is of course what real annual average investment return it is reasonable to assume over 11 years for broad based medium risk collective funds mostly invested in equities. I note that the government has indicated that the lower lifetime limit of £1m will be indexed to inflation from 2018.

Any thoughts gratefully received. I appreciate I will need formal professional advice before coming to a final decision.

[LozaACCS]

I have just put the figures onto the standard life pension tool (check it out), it is saying you are likely to exceed the LT allowance and should seek help.
Given the current capital value it seems to me that the only way of not exceeding the LA if you continue saving is a collapse in equities/bonds which is of course possible but not much help to you.
Personally I would seek fixed protection and perhaps look at property as an alternative, todays budget may make commercial property attractive.