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04 January 2010
Pension Schemes Newsletter 38
The normal minimum pension age for registered pension schemes increases from 50 to 55 from 6 April 2010: see HMRC’s guidance in the Registered Pension Schemes Manual.
From 6 April, payments to a member under the normal pension age of 55 are likely to be unauthorised, unless:
- the member has a protected pension age (see RPSM03106000);
- the normal minimum pension age requirement does not apply because the member takes benefits on ill-health (see RPSM08100070); or
- the member started taking those benefits before 6 April 2010 having reached the normal minimum pension age of 50.
In Pension Schemes Newsletter 38, HMRC confirm their interpretation of the rules for payment of pension commencement lump sums and pension benefits around 6 April and discuss some of the practical aspects of the change.
