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Bridging pensions regulations

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The Registered Pension Schemes (Bridging Pensions) and Appointed Day Regulations, SI 2016/1005, come into force on 8 November 2016 to ensure that the circumstances under which an occupational scheme can reduce a bridging pension remain the same, now that the single-tier state pension has replaced the basic state pension. Existing legislation provides for the bridging pension to be reduced at the point the state pension payments begin. The regulations now refer to the new single-tier state pension and have effect in relation to scheme pension payments made on or after 6 April 2016.

Issue: 1329
Categories: News