The Underpin

The underpin protection applies to members who were age 55 or over on 31 March 2012 and remained in the Scheme after 1 April 2015.

These are protections that apply to members who are close to retirement to ensure that they receive a pension at least equal to that which they would have received had the Scheme not changed on 1 April 2015. The underpin also applies to protected pension benefits transferred into the Scheme after 1 April 2015.

Those members who are protected by the underpin have to meet all the criteria below:

  • were active members on 31 March 2012, and
  • were within 10 years of their Normal Pension Age on 1 April 2012,
  • were active members immediately before the underpin date and receive payment of benefits on or after the underpin date,
  • have not had a disqualifying break in service of more than 5 years, and
  • have not drawn any benefits before the underpin date.

The underpin date is the date a member reaches age 65, or the date of death in service or the date they left the Scheme with an immediate entitlement to pension (including flexible and voluntary early retirement).