If you have a defined contribution pension, you can usually start taking an income or lump sums (or both) from the age of 55.
But be aware that the earlier you start taking money out of your pension, the longer it might need to last. So it’s important to think carefully about how you manage your money – to avoid it running too low as you get older.
The normal minimum pension age is increasing to age 57
Although you can usually access your pension from age 55, this is set to change to 57 on 6 April 2028. This could affect your defined contribution or defined benefit pension.
Anyone born on or after 6 April 1973 may see their minimum pension age move to 57. This means you might not be able to take some or all of your pension benefits until you reach that age, which could be up to two years later than expected.
Check with your pension provider if the minimum age for accessing your pension will increase, as some people might qualify for a protected pension age on some or all of their benefits.