RPSM09103050 - Technical Pages: Member benefits: An alternatively secured pension: General information on limits

This guidance only covers members who became entitled to an alternatively secured pension before 6 April 2011. If the member reached age 75 between 22 June 2010 and 5 April 2011 you should also read the guidance in RPSM17100000 onwards.

If the member reached age 75 on or after 6 April 2011 then see the guidance at RPSM09103500.

Minimum and maximum amounts of alternatively secured pension that can be drawn

A member must draw a pension income of between 55% and 90% of the basis amount calculated for every pension year commencing on or after 6 April 2007 (0 - 70% for earlier years - see RPSM09103030), except in the circumstances described at RPSM09103150.

Responsibility of the scheme administrator

The scheme administrator is responsible for ensuring that the minimum and maximum limits are complied with, and for reviewing these limits as required.

Flexibility of payment

The member is free to vary the amounts paid year by year within the specified limits. The amounts withdrawn may be paid at regular intervals or on an annual basis, either in advance or in arrears, or on an ad-hoc basis. Within these parameters, the degree of flexibility available to members under a particular scheme is a matter for the scheme.