If you log into your paypal account it will confirm if this is right by putting it as an announcment. If you think the link is dodgey hover over it. if it is just paypal.com/something then it will be fine...if it is paypal.something.something.com/something then it is a phising email.
I did get something when I got to a limit on my account. It might have been £2000, but any phiser would know the limit and send out similar emails to confuse you so just be careful. When I did it it was to comply with some EU money laundering law. I had announcements in my account which I followed through, so I would ignore any email if your account doesn't say anything!!