Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what equality impact assessment she has undertaken regarding the effect of the increase in Normal Minimum Pension Age on women, particularly those with primary caring responsibilities.

The NMPA is the minimum age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge. The increase in Normal Minimum Pension Age (NMPA) from 55 to 57 will take effect from 6 April 2028. It was announced in 2014 and legislated for in Finance Act 2022.

The legislation includes protections for members of registered pension schemes who have an unqualified right to access their pension benefits before age 57.

HMRC published details of the general equalities impacts of the increase to the NMPA in the Tax Information and Impact Note which accompanied the measure. Further information is available here: https://www.gov.uk/government/publications/increasing-normal-minimum-pension-age/increasing-normal-minimum-pension-age