Retirement Pension Premium

The Retirement Pension Premium is not available to anyone who has not reached age 75 by 5 April 2019.

It was introduced in 1990 to provide certain people who were generally too old to have fully participated in the State Earnings Related Pension Scheme (SERPS) with a limited amount of additional pension.

Qualifying conditions

To qualify for a Retirement Pension Premium (RPP) you must:

• Be aged 75 or over
• Be ordinarily resident in the IOM
• Be entitled (or treated as entitled) to a State Pension from the Isle of Man Treasury, and
• Have paid relevant contributions in the IOM for at least 10 years (the contributions of a spouse or deceased spouse may count towards meeting this condition in certain circumstances)

Whether you qualify for a Retirement Pension Premium will depend on, among other things, how much additional state pension you are entitled to and whether you were a member of a contracted out occupational scheme or an appropriate personal pension scheme.

Normally, you don’t need to make a separate claim for the Retirement Pension Premium. Entitlement will be considered when you reach the age of 75 and we will let you know whether or not you are entitled.

The maximum amount of Retirement Pension Premium payable is £21.35 per week.