You can normally take an income or lump sum out of your pension pot from age 55. The government is proposing to increase this to age 57 from 2028 as the State Pension age rises to 67. After 2028 the minimum pension age will continue to always be 10 years below State Pension age (this is due to rise with life expectancy rises).
Your pension pot will have a selected retirement age, which is used to calculate your expected pension shown in your annual statement. As a rule we use the State Pension age as your retirement age, but you can change this if you like. If you take money earlier than this age it will affect how much you receive later.
However, a pension pot can provide a useful income if you decide to move to part-time work before stopping completely.
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