Expenditure that is regular, out of income and does not reduce the transferor’s normal standard of living, can be transferred from one person to another free of inheritance tax. Life insurance premiums may qualify for this exemption.

Earliest age at which a pension scheme member becomes entitled to receive full retirement benefits other than the guaranteed minimum pension. This definition is relevant for preservation and contracting out purposes. Each scheme has its own NPA; members retiring earlier normally get a reduced pension.

Date applicable to an occupational pension scheme member as specified in the scheme rules. It is the date when a member becomes entitled to receive his retirement benefits and is usually the date of reaching that stated NPA.

The age at which a person holding a particular post normally retires.