Protected retirement age

stone_h

Hello!

I have a client with a protected retirement age (as part of scheme rules). Can anybody confirm whether this would need PTS sign off, if transferred away?

Thank you

Colinstewart76

Hi @stone_h ;;

My understanding is a protected retirement age is not, in itself, a safeguarded benefit and so PTS sign off shouldn't be necessary unless the scheme has guarantees that fall under the definition of safeguarded. Perhaps this will help https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/495377/pension-benefits-with-a-guarantee-factsheet-jan-2016.pdf

Colinstewart76

Sorry tried to edit that but it didn't work.  PTS sign off only required if there are benefits in there that fall under the safeguarded definition.

Jona

Might be reduction in LTA issues if exercises the early age....
May impact other pension funding.

stone_h

Great - thank you very much for your responses.