If you’re suffering from ill health you may be able to get more from your pension savings.
If you smoke or you’re in poor health, make sure you tell the annuity provider – you might be able to get an enhanced/impaired life annuity that gives you more income.
You may be able to access your pension savings earlier than the current minimum age of 55 (rising to age 57 for some members from 6 April 2028), if you’ve become physically or mentally incapable of continuing your job, and so you’ve stopped working.
As well as meeting HMRC’s rules, we’ll need a report confirming that you are medically incapable of continuing your job as result of injury, sickness, disease or disability. Please get in touch with us if you’d like to claim.
If you’re aged under 75 and you’re suffering from serious ill health – with a life expectancy of less than 12 months – you may be able to get your whole pension pot, as a tax-free lump sum.
Get in touch with us to check how it works and what medical evidence you’ll need to provide.
We’re not authorised to give you advice, but you can read more about your guidance and advice options on our website.