A-Day confusion on protected rights could cost 70%

Scottish Life says it has received a number of enquiries as to whether protected rights can be taken earlier than the minimum retirement age of 50, or 55 from 2010, as under the original rules protected rights could not be taken before the age of 60. Since 6 April, members have been able to keep the earlier retirement age they had before A-Day, providing they meet certain circumstances which for personal pensions means being or having been in a “prescribed occupation”, such as a footballer or athlete. But under the old rules this meant even though a member could take benefits from say t...