Women’s retirement age change

golfillini

My wife was medically retired in 1999 and has received a company medical pension since then.
She is 60 next year and her medical pension finishes. When she was medically retired the pension age for retirement was aged 60 for women. This has now changed. Does this mean her medical pension will carry on until she reaches the present retirement age for women  at 67

unforeseen

Wouldn't you need to speak to the pension provider about this? It will all hinge on the rules of the scheme. 

p00hsticks

As unforeseen says, only the pension provider can tell you, as different schemes have different rules.

I have one pension with the Normal Retirement Age set at 60, one at 65, and another which is linked to my State Pension Retirement Age

RetSol

In the first instance. you must ask the pension provider what happens once your wife reaches 60.  Once you have established this, ask the forum again.  It not only hinges on the rules of the scheme but also on whether those rules comply with current disability discrimination legislation. This is a complex area. 

SMcGill

I thought changes to pension age only affected pension built up after the change was notified to members? Is that not a fixed rule?

xylophone

My wife was medically retired in 1999 
When she was medically retired the pension age for retirement was aged 60 for women.

The Pensions Act 1995 enacted legislation to increase female state pension age to 65 by 2020.

Only women born before 6/4/1950 would have been entitled to draw their pension at age 60.

Therefore when your wife (born 1962) was medically retired, her state pension age was   scheduled to be 65.

The 2011 Pension Act accelerated the timetable such that  the increase to  female state pension age to 65 was reached in 2018.

SPA for both sexes was then raised to age 66 and to age 67 by 2028.

Marcon

SMcGill said:

I thought changes to pension age only affected pension built up after the change was notified to members? Is that not a fixed rule?

Not a rule at all, let alone a fixed one. 

hyubh

Marcon said:

SMcGill said:

I thought changes to pension age only affected pension built up after the change was notified to members? Is that not a fixed rule?

Not a rule at all, let alone a fixed one. 

Section 67 of the Pensions Act 1995.

hyubh

SMcGill said:

I thought changes to pension age only affected pension built up after the change was notified to members? Is that not a fixed rule?

I would guess the 'fixed rule' here is to age 60 or 65... but as the very first reply to the OP said, all depends on the terms of the particular scheme.

Marcon

hyubh said:

Marcon said:

SMcGill said:

I thought changes to pension age only affected pension built up after the change was notified to members? Is that not a fixed rule?

Not a rule at all, let alone a fixed one. 

Section 67 of the Pensions Act 1995.

Have another look at S67...it's not as simple as you seem to think (certainly not nowadays) and the crucial date certainly isn't 'after the change was notified to members'.

Marcon

golfillini said:

My wife was medically retired in 1999 and has received a company medical pension since then.
She is 60 next year and her medical pension finishes. When she was medically retired the pension age for retirement was aged 60 for women. This has now changed. Does this mean her medical pension will carry on until she reaches the present retirement age for women  at 67

Medical retirement normally means that someone is entitled to receive their pension earlier than the scheme's normal retirement age, possibly at an enhanced level for the age at which they are allowed to take it, and (as in your wife's case) at a younger age than someone in normal health could access a pension at all. 

Are you sure her pension doesn't just carry on being paid at the level it has reached (plus increases going forward) once she reaches the scheme's normal retirement date? It's unlikely it will be reduced now it's in payment although it would be sensible to check.

Just one thing - you are sure it is a pension paid from the pension scheme, not some sort of insurance policy (could be described as Permanent Health Insurance or Income Replacement)? If so, it's likely the pension scheme will take over and provide her with a pension once she reaches the upper age limit for the policy.