Simply the age you choose to retire, but not necessarily the earliest you can access your pension pot.
From the age of 55 (the government proposes to increase this to age 57 from 2028) you can use your pension savings to get a lump sum or an income – whether you’ve retired, you’re working part-time or you’re not planning to retire at all. Nowadays your pension is all about supporting you in later life, whatever you’re up to.
With The People’s Pension you can choose whatever retirement age you’d like (from 55 onwards, or as the government proposes, age 57 from 2028) – just log in to your Online Account to let us know. That way we can manage how your pension savings are invested appropriately.
Don’t forget though, if you do want to properly retire before you get your State Pension, then your other pensions, savings or income will have to be enough to live on. So you may need to hold off for a few years, or start to claim your pension savings while continuing to work part-time.
And you don’t have to be actually retiring. The age you choose is just to let us know roughly when you’re thinking of accessing your pension, so we can manage how your pension savings are invested appropriately.