Jurisdiction(s):
United Kingdom

Under-57 in phased drawdown: further vesting after NMPA 57?

Published by a LexisNexis Pensions expert

Q&As

The Finance Act 2004 (FA 2004) sets conditions for pensions and lump sums to be authorised payments.

Under FA 2004, a member’s pension from a registered pension scheme must not begin before they reach the normal minimum pension age, unless the ill-health condition is met. In the same way, most lump sums are not payable before that age. The normal minimum pension age was 50 when FA 2004 took effect on 6 April 2006, rose to 55 from 6 April 2010, and will increase to 57 from 6 April 2028, excluding uniformed services pension schemes (army, navy, air force, police and firefighters). Transitional provisions preserve members’ subsisting rights to draw scheme benefits before age 55; this is referred to as a protection pension age. The Pensions Tax Manual confirms that, to hold a protected pension age, the member must have an unqualified right to receive benefits before the normal minimum pension age, i.e. not dependent on another person’s consent (PTM062210)...

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Max Ballad

Brabners LLP

Max has a rounded experience of pensions having worked for a corporate trustee which administered one of the largest UK defined benefit pension schemes and undertaking independent trustee wok before qualifying as a legal executive at DLA Piper in 2006. He also spent five years at specialist pensions law firm Arc Pensions Law....

Web page updated on 27/05/2026

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