If you're in poor health, or you work in an occupation that traditionally has early retirement ages, such as athletes, you could access your money earlier.īut for most pension schemes, the earliest you can access your pension is at age 55. There are some circumstances when you may be able to take a lump sum, or indeed cash in your entire pension, earlier than 55. Most of these schemes are scams, which come with fees as high as 30%, and the remainder of your fund is often invested in high risk or dubious schemes. Watch out for companies promising early pension access.

In normal circumstances, no you can't withdraw any of your pension before the age of 55 - without paying a huge tax penalty.Īny pension savings withdrawn before the age of 55 are subject to a huge 55% tax. Your data will be processed in accordance with our Privacy policy Can I withdraw my tax-free lump sum before age 55? This newsletter delivers free money-related content, along with other information about Which? Group products and services.

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