You can now choose to access your pension as early as age 55, which is the legal, minimum retirement age.

This means you will no longer have to wait until you’re 60 to retire and start enjoying your Scheme benefits, although your pension will be reduced if you take it before your Normal Pension Age.

If you’d like to take your pension before the age of 60, you will also need to give at least three months’ notice.

More information about accessing your pension early, and the impact it will have on your payments overall, can be found in our new guide to early retirement here.

The legal minimum retirement age is set by the Government, and there are plans for it to increase from 55 to 57 years old by 2028. We will keep you updated on this, and any other developments that could affect the early retirement option.