PASA today published Guidance on preparing for the change to Normal Minimum Pension Age (NMPA) ahead of the increase to age 57 from 6 April 2028.
Mark Ormston, Chair of the PASA Industry Policy Committee, commented: “Although the increase on NMPA is three and a half years away, trustees and administrators should take action now to prepare for the change and ensure people with a PPA are treated fairly.
This Guidance is designed to support trustees and administrators to:
- identify scheme members with a Pension Protected Age (PPA) who will be impacted by the change in NMPA
- deal with transferred in PPAs
- understand how these changes differ to the last NMPA increase in 2010
- provide a checklist of actions which should be taken now to prepare for the new legislation
We do expect further ‘transitional regulations’ from the Government to address minor consistencies. PASA will keep a watching brief on this and update the Guidance as new information becomes available.”
The new PASA Guidance ‘Preparing for the change to NMPA’, can be found here.
