Policy paper

Increasing Normal Minimum Pension Age

This Tax Information and Impact Note outlines the increase to the earliest age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge, the normal minimum pension age, from 55 to 57.

Documents

Details

This measure increases the earliest age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge, the normal minimum pension age, from 55 to 57. This increase will have effect from 6 April 2028.

This measure also introduces new rules to reduce the restrictions on retaining a protected pension age following a block or individual transfer.

Updates to this page

Published 4 November 2021

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