Jurisdiction(s):
United Kingdom

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Key definition

Sector definition

What does Sector mean? In legal practice, sector describes a category of economic activity or group of undertakings with shared products, services or regulation (for example energy, telecommunications, financial services or media), used to frame regulatory, contractual and transactional analysis. The term is generally descriptive rather than a single defined legal term, but specific statutes define sectors for particular purposes: in the UK, anti-money laundering law refers to the “regulated sector”, public procurement law identifies the “utilities sectors”, and national security screening specifies “sensitive sectors” for notifiable acquisitions; Irish legislation uses analogous concepts (for example “designated persons” for AML and sector-specific procurement directives). Usage...

UK public sector exit payments and pensions: revocation of the £95,000 cap, HM Treasury guidance and controls, and the aborted Civil Service Compensation Scheme reforms

Published by a LexisNexis Pensions expert

Practice notes

FORTHCOMING CHANGE

Section 10 of the Finance act 2022 will lift the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028, excluding members of the firefighters, police and armed forces public service pension schemes.

It will also permit members of registered pension schemes to access benefits before 57 where, on or before 4 November 2021, they either held an ‘unqualified right’ to take benefits, or were already undertaking a substantive transfer to a scheme that, on or before that date, offered an unqualified right to a protected pension age below 57.

To rely on this new protection in 2028, the scheme’s rules must have, as at 11 February 2021, contained an unqualified right to take entitlement to scheme benefits before age 57.

For further details, see Practice Note: Increasing the normal minimum pension age (NMPA) to 57—pensions impact.

The government has long expressed concern about the size of termination payments in the public sector, and there have been multiple initiatives—some unsuccessful—to impose controls on such payments...

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Web page updated on 26/05/2026

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