Bridging pensions
Produced in partnership with Wyn Derbyshire of gunnercooke LLP
Bridging pensions

The following Pensions practice note Produced in partnership with Wyn Derbyshire of gunnercooke LLP provides comprehensive and up to date legal information covering:

  • Bridging pensions
  • Bridging pensions—background
  • Unequal SPAs for men and women and bridging pensions—how they interact
  • Bridging pensions and equality—case law
  • Bridging pensions—when a bridging pension can be paid until
  • Bridging pensions—power to amend the bridging pension rule to take account of changes to the SPA
  • Modification of schemes under section 68 of the Pensions Act 1995—trustees’ power to modify schemes
  • Effect of the legislative power to amend
  • Legislative power to amend—what changes can be made
  • Bridging pensions and the Equality Act 2010
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: Brexit and IP completion day—the implications for pensions.

Bridging pensions—background

Bridging pensions are a form of pension provided by some (but not all) defined benefit occupational pension schemes in circumstances where a member’s scheme pension commences before state pension age (SPA). As the name suggests, bridging pensions are a form of temporary 'top-up' pension intended to 'bridge the gap' between the date on which the relevant member's 'normal' scheme pension comes into payment, and a later date, typically the member’s SPA when his or her state pension commences.

Unequal SPAs for men and women and bridging pensions—how they interact

Until plans were considered by the Government to equalise the SPAs for men and women in 1993, men had continued to enjoy an SPA of 65 and women 60. Bridging pensions are commonly found where they are used in an attempt to ensure male and female members with differing SPAs enjoy comparable overall

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