RPSM08300070 - Scheme Administrator Pages: Pension age: The scheme rules currently allow benefits to be paid before age 55 - what should I do?

The scheme rules currently allow benefits to be paid before age 55 - what should I do?

Where, before 6 April 2006, a member had an unqualified right to take their benefits before the normal minimum pension age, that right will be protected after 6 April 2006 in certain circumstances. You should tell the member if their right to take benefits has been protected although there is no requirement for the member to register the protection themselves with HMRC.

The scheme administrator must retain evidence that the member had an unqualified right to receive their benefits before the normal minimum pension age for 6 years after the benefits have come into payment.

For further information on protection of early retirement ages and what is meant by “unqualified right”, see RPSM03106000.