Normal pension age draft legislation branded 'hugely complex mess'

Rising from 55 to 57

Jenna Brown
clock • 4 min read

Draft legislation confirming the increase to normal pension age - from 55 to 57 in April 2028 - has been issued by HM Revenue & Customs (HMRC) and branded a "hugely complex mess" by one pension expert.

If followed a consultation that ran from February to April which garnered received 142 responses.  The new rules mean the normal minimum pension age will increase from 55 to 57 in 2028 in line with the increase in state pension age to 67. Members of ‘uniformed pensions schemes' such as the armed forces and police and fire services will still be able to take benefits from 55. The rules state a member of a registered pension scheme who on 5 April 2023 has a right to take benefits from an earlier age than 57 and the rules of the scheme on 11 February 2021 (the date of the original con...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

FCA outlines thinking on using pension pots for house deposits

FCA outlines thinking on using pension pots for house deposits

FCA CEO Nikhil Rathi ponders radical thinking on pension savings

Jonathan Stapleton
clock 02 April 2025 • 3 min read
IFS: Growing DC market needs reform to help savers manage risks

IFS: Growing DC market needs reform to help savers manage risks

Savers facing ‘stark’ challenges managing DC pots in retirement

Martin Richmond
clock 02 April 2025 • 6 min read
AJ Bell sells Platinum SIPP and SSAS business in £25m deal

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

InvestAcc Group takes over £3.2bn book of business

Jenna Brown
clock 27 March 2025 • 1 min read