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 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 is a reportable event which
will need to be reported to HMRC by the scheme administrator using
the online Event Report – (see
RPSM12301030)
| Glossary RPSM20000000 |
