Normally you can only access your pension before age 55 if you’re in ill health.
Be careful if you’re offered early access to your pension pot as these offers are generally scams designed to fool you into transferring your pot into bogus schemes. You could lose a lifetime’s worth of savings. So stop and ask yourself – ‘could this be too good to be true?’ If you’ve already been approached and signed a contract, call Action Fraud on 0300 123 2040.
You can find more about how to protect yourself from pension scams on The Pensions Regulator’s website. You can watch their video on how to safeguard against scams.
There’s also helpful information on our website: thepeoplespension.co.uk/wp-content/uploads/2016/03/pension-scams-booklet-members.pdf thepeoplespension.co.uk/how-to-avoid-pension-scams/