A message for contributing and deferred members

From 6 April 2028, the earliest age from which people can normally start to take their pension benefits is changing from age 55 to age 57. The Government confirmed this change for most pension arrangements in February 2021 – although some schemes may still allow benefits to be taken before age 57 when the changes comes in from April 2028.

At present, whilst the Government is still consulting on the detail, we are unable to confirm the extent to which the changes will impact the Scheme, and it may take some time before the position becomes clear.

If you are thinking about taking a transfer with an expectation that you can start to take benefits from the receiving arrangement prior to age 57, you should consider this and discuss it with your financial adviser.

This change does not impact the ability to take pension benefits before the minimum pension age as a result of ill-health.