When can I access my pension?
The answer depends on the type of pension, when the scheme was set up, and whether any protections apply. This guide covers the key access ages and exceptions.
- ▸The normal minimum pension age for most defined contribution pensions is currently 55. It rises to 57 on 6 April 2028.
- ▸Some pension schemes have a 'protected pension age' of 55, meaning members can still access at 55 even after the 2028 change — but only if the scheme rules included this protection before 4 November 2021.
- ▸Defined benefit (DB) pensions have a 'normal retirement date' set by the scheme — often 60 or 65. Early access before this date typically reduces the annual pension.
- ▸Ill health and serious ill health are the only routes to access a pension before the minimum pension age, and specific medical criteria must be met.
Normal minimum pension age: 55 now, 57 from 2028
The normal minimum pension age (NMPA) is the earliest age at which most people can access their defined contribution pension without penalty. It has been 55 since 2010.
On 6 April 2028, the NMPA rises to 57. This change was legislated in the Finance Act 2022 and aligns the minimum pension age to 10 years below the state pension age (which is 67 for those born after 5 April 1960).
Reaching pension access age does not mean the pension must be taken. There is no requirement to access the pension at 55 or 57. Leaving it invested — and continuing to contribute — allows the pot to grow further.
When the pension is accessed, several options are available: taking 25% as a tax-free lump sum, entering drawdown for flexible income, purchasing an annuity for guaranteed income, or taking the entire pot as cash (subject to income tax on 75% of the total). The pension drawdown calculator models income options.
Protected pension age: who still has 55
When the government announced the increase to 57, it included a protection for members of schemes that already had a normal minimum pension age of 55 written into the scheme rules before 4 November 2021.
These members retain a "protected pension age" of 55, meaning they can still access their pension from age 55 even after April 2028. The protection is attached to the specific pension scheme, not to the individual. If a member transfers to a new scheme that does not have the same protection, the protected pension age is typically lost.
This creates a practical consideration for anyone considering a pension transfer: if the current scheme has a protected pension age of 55 and the destination scheme does not, the transfer may delay access by two years. The scheme administrator can confirm whether a protection applies.
Some occupational schemes — particularly those for uniformed services, professional athletes, and certain other occupations — have scheme-specific minimum ages below 55. These are set by scheme rules and are not affected by the general NMPA change.
DB pensions: normal retirement date
Defined benefit pensions — including final salary schemes — have a normal retirement date (NRD) built into the scheme rules. This is typically 60 or 65, though some older schemes have an NRD of 55.
The NRD is the age at which the full pension is payable without reduction. Taking a DB pension before the NRD usually triggers an early retirement reduction — a permanent percentage cut to the annual pension, reflecting the longer expected payment period.
The size of the reduction varies by scheme but is typically 3–6% per year of early access. Taking a pension five years early might reduce the annual income by 15–30%. The scheme's member booklet or benefit statement will state the exact reduction factors.
After the NRD, some schemes apply late retirement increases — a percentage uplift for each year the pension is deferred.
The state pension age calculator covers state pension timing specifically, which is separate from private pension access ages.
Early access exceptions (ill health, serious ill health)
Two categories allow pension access before the minimum pension age:
Ill health retirement: Available where the member is unable to carry on their current occupation due to physical or mental impairment. The scheme trustees (for occupational schemes) or the provider (for personal pensions) must be satisfied that the condition prevents the member from working in their current role. The pension is then accessed early, but standard tax rules apply — 25% tax-free, the rest taxed as income.
Serious ill health lump sum: Available where the member has a life expectancy of less than 12 months, confirmed by medical evidence. In this case, the entire pension pot can be paid as a lump sum. If the member is under 75 and has not exceeded the lump sum allowance, the payment is tax-free. If over 75, it is taxed at the marginal income tax rate.
There is no provision for early access on grounds of financial hardship, debt, or redundancy. Pension "liberation" schemes that claim to unlock pensions before the minimum age are typically scams and can result in tax charges of up to 55% on the amount withdrawn, plus the loss of the pension itself.
- ▸The normal minimum pension age rises from 55 to 57 on 6 April 2028, as legislated in the Finance Act 2022. [GOV.UK]
- ▸Protected pension ages apply only to members of schemes whose rules provided for a pension age of 55 before 4 November 2021. The protection is lost if the member transfers to a scheme without the same provision. [HMRC]
- ▸A serious ill health lump sum can be paid tax-free to members under 75 with a life expectancy of less than 12 months, provided they have sufficient lump sum allowance. [HMRC]