RPSM03106010 - Technical Pages: Protecting pension rights from tax charges: Taking benefits before normal minimum pension age: Right to take benefits early

Right to take pension and/or lump sum benefits before normal minimum pension age

From 6 April 2006, individuals who take a pension and/or lump sum benefits from a registered pension scheme before the normal minimum pension age are liable to a tax charge, unless they are in ill-health. The normal minimum pension age is age 50 from 6 April 2006 until 5 April 2010, and 55 thereafter.

Some individuals had unqualified rights on 5 April 2006 to take a pension before the normal minimum pension age and, where certain conditions are met, these individuals may take benefits at an age earlier than the normal minimum pension age without incurring a tax charge. This is known as the member’s protected pension age.

Individuals must keep to certain conditions if they are to keep their right to a protected pension age. RPSM03106060 to RPSM03106072 give more information on these conditions.