What age can I draw my private pension?

The rules of your pension scheme will detail when you can access your pension pot, although generally it’s normally when you reach 55 years old.

In some cases, you may be able to retire earlier than 55. This applies if your job has a lower retirement age, such as if you’re a professional sportsman, if you have poor health or if the rules of your pension state a lower age.

Those with a workplace pension may need to gain the consent of their present or past employer before they can access the benefits of their pension early.

With a personal pension, you do not need this consent, but early access must be stipulated within the terms and conditions of your contract.

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