Changing the Normal Minimum Pension Age

21 September 2022

On 24 February 2022, the Government passed the Finance Act 2022 which contains legislation to increase the Normal Minimum Pension Age (NMPA) from 55 to 57 on 6 April 2028.

The NMPA is the earliest age a member can draw benefits from a pension scheme (apart from on the grounds of ill-health) without incurring unauthorised payment charges.

If you're currently under 55 and planning to retire early, you might need to factor this change into your plans so that you don't get caught out.

You can calculate an unlimited number of retirement quotations at different retirement dates by logging in to The M&S Pension Scheme Portal.