When you can take your money

The Plan’s Selected Retirement Age is 65 – but you can choose to take your money earlier or later than this

As soon as you turn 55, you can start taking your money if you want to. You can use it to boost your income, to replace some of your wage if you want to work fewer hours, or to help you stop work altogether.

You don’t have to start taking your money at 55, but you do have to start taking it by the time you turn 75.

If you’re ill and you can’t carry on working, you might be able to take your money before you’re 55.

If you do start taking your money before your Selected Retirement Age, you’ll probably get a lower amount as income every year. That’s because the money you’ve built up will need to last you longer.

Be wary of anyone that tells you they can help you access your pension savings before you’re 55

Unless you’re ill and can’t work, this is usually a scam. Pension scammers use sophisticated tricks to try and get their hands on your money. Find out more about pension scams.