RPSM08300030 - Scheme Administrator Pages: Pension age: Do the scheme rules need to be amended?

Do the scheme rules need to be amended?

If the scheme rules contain a normal retirement age below age 50, they will need to be amended to ensure that no benefits are paid on or after 6 April 2006 until the member has reached the normal minimum pension age of 50.

If the scheme rules contain a normal retirement age of between age 50-55 they will need to be amended to ensure that no benefits are paid on or after 6 April 2010 until the member has reached the normal minimum pension age of 55.

All registered pension schemes must incorporate the normal minimum pension age of 55 into their rules by 6 April 2010. It is for schemes to decide how and when to make this change in a way that best suits their needs.

There are separate rules for those members who have an unqualified right prior to 6 April 2006 to receive their pension benefits before age 50 (or age 55 by 6 April 2010) (see RPSM08300070).