What are the changes?
On the 6 April 2010 the normal minimum retirement age will increase from age 50 to 55.

Who will this affect?
Anyone who has uncrystallised funds and remains between 50 and 55 on the 6 April 2010. It will not affect anyone with fully crystallised funds.

What can be done?
If you are likely to be affected by this and wish to take benefits either via unsecured income or annuity purchase you will need to act swiftly.

Annuity purchase
All relevant documentation including:

• birth certificate, if not already provided;
• marriage certificate, if applicable; and
• Suffolk Life Open Market Option form

will need to be received by us no later than the 18 March 2010. There must be sufficient cash within the SIPP to pay the PCLS and make the transfer to the annuity provider, encashment of investments can take some time and so these must be requested so that there are cleared funds in the SIPP again by the 18 March 2010. If property is involved, more time will be needed.

Unsecured income
If the SIPP is already with us then we will need to receive the completed unsecured income form by the 31 March 2010 to be able to put the plan into unsecured income on the 1 April 2010.

Immediate vesting transfers in
Time really is of the essence if the funds are currently with another provider. We will do all we can to get the plan established and into unsecured income in time, but much will depend on the ceding scheme and receipt of appropriate documentation via a financial adviser.