You don’t have to actually retire to take your pension savings. You can start to take your pension savings any time after you reach age 55.
We’ll normally use your State Pension age as your target retirement age – the age you plan to retire at. You can check your State Pension age here.
If you want to retire earlier or later than your State Pension age, please tell us. It’s important we have an up-to-date target retirement age for you as it affects when we begin to switch your savings from ‘growth’ investments, (designed to grow your pensions savings) to ‘protection’ investments, (designed to safeguard the value of the pensions savings you have accrued).
You can find out more about your retirement options through the NOW: Pensions Trust here.
Related resources
What happens to an employee’s pension if they leave the company?
When can I retire?