RPSM08300040 - Scheme Administrator Pages: Pension age: What happens if the scheme rules are not amended?

What happens if the scheme rules are not amended?

If the rules of the scheme are not amended to incorporate the new normal minimum pension age, any payment made from the scheme before the member reaches the normal minimum pension age will be treated as an unauthorised payment.

The scheme administrator will also be subject to a scheme sanction charge, unless the benefits are being paid on ill-health grounds or the member has an unqualified right to receive their benefits earlier.

The early provision of benefits must be reported to HMRC by the scheme administrator using the online Event Report - see RPSM12301050