Normal Minimum Pension Age definition

Normal Minimum Pension Age means the Member’s protected pension age under paragraph 22 of Schedule 36 to the Finance Act 2004.
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Normal Minimum Pension Age means age 55; “OEIC” means an open-ended investment company;
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Normal Minimum Pension Age currently means age 55, but is scheduled to increase to 57 in 2028 and 58 in 2039.
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Examples of Normal Minimum Pension Age in a sentence

  • At the date of this OMI, the UK Government have confirmed an increase to the Normal Minimum Pension Age from 55 years to 57 years from 5 April 2028.

  • The most significant of these is the rise in Normal Minimum Pension Age from 55 to 57 on 6 April 2028.

  • It includes measures announced in the Autumn Statement and Budget, as well as a previously announced increase to the Normal Minimum Pension Age (NMPA) from 55 to 57 with effect from April 2028.

  • The Normal Minimum Pension Age may be changed by the UK Government.

  • When a Member has attained the Normal Minimum Pension Age the Member may make a written application to withdraw all or part of the amount standing to the credit of the Member’s ROPS Account, and the Manager shall pay to the Member all or part of the amount standing to the credit of the Member’s ROPS Account at the date of payment, subject at all times to the deduction of any taxes payable, if applicable (and to clause 35.1).

  • Without otherwise limiting any other provision of this clause 34, to the extent required by the ROPS rules any withdrawals from a Member’s Retirement Account shall be treated as withdrawals from the Member’s ROPS Account for so long as the Member is under the Normal Minimum Pension Age and is therefore subject to the provisions of clause 35.1.

  • For an employee that is made redundant and is above the Normal Minimum Pension Age (currently 55), their Employing Company may consider exercising its discretion to provide a smaller reduction than usual on early retirement.

  • The Normal Minimum Pension Age (NMPA) will increase from age 55 to 57 from 6 April 2028 in line with increases to the state pension age.

  • A Member’s benefits may be paid before the Normal Minimum Pension Age if the Member qualifies fora Serious Ill-health Lump Sum in accordance with paragraph 4, schedule 29 of the Finance Act.Pension Credit Benefits for an Ex-Spouse or an Ex-Civil Partner may also be paid at any time if Incapacity applies to the Ex-Spouse or the Ex-Civil Partner.

  • Salary at retirement – Pension = Earnings Margin Impact of further employment on Protected Pension Age (1987 scheme members only) Since 6 April 2006, the Normal Minimum Pension Age for UK Registered Pension Schemes has been 55, other than in cases of ill-health retirement.2 This means that it is not possible to access a pension before reaching this age.


More Definitions of Normal Minimum Pension Age

Normal Minimum Pension Age means age 55;
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Normal Minimum Pension Age means 50;] "scheme" means an occupational pensions scheme.]
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Normal Minimum Pension Age has the same meaning as in section 279(1) of the Act.
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Normal Minimum Pension Age means in respect of a Member or Deferred Retiree:
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Related to Normal Minimum Pension Age

  • Normal Retirement Age means the Executive's 65th birthday.

  • Normal Minimum Generation means the lowest output level of a generating resource under normal operating conditions.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Retirement Age means the earlier to occur of the Participant attaining: (i) age 65 or more; or (ii) age 60 or more with at least 15 years of continuous Service, provided that the Participant has continuously remained in Service from the Award Date until the earlier to occur of (i) or (ii).

  • Extended benefit period means a period which:

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • qualifying age for state pension credit means (in accordance with section 1(2)(b) and (6) of the State Pension Credit Act 2002)—

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Final average salary means whichever of the following is greater:

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Normal Fare means the highest priced fare established for a first, business or economy class service during the period of applicability.

  • Actuarial equivalent means a benefit of equal value when

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Average Contract Value means the higher of (inclusive of carbon tax but exclusive of goods and services tax) the (i) average of the total amount payable by the Consumer to the Retailer based on the average electricity consumption of three (3) months (before the date of termination) or (ii) the total amount payable by the Consumer to the Retailer based on the Declared Monthly Consumption.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Final Average Pay means, for purposes of Section 5 the average of Employee's three (3) highest years of Compensation during the ten (10) calendar year period immediately preceding the calendar year in which Employee Retires, and for purposes of determining death benefits under Section 6 the average of Employee's three (3) highest years of Compensation during the ten (10) calendar year period immediately preceding the calendar year containing Employee's date of death. The foregoing notwithstanding, any calendar year in which Employee has no Compensation from the Corporation shall be ignored in determining such ten calendar year period.

  • Final Average Earnings means the earnings used to determine benefits under this Plan as further described in Article 7.

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Average final compensation means the average annual creditable compensation of a member during

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • Accrued Benefit have the meanings specified in ERISA.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.