Three points to consider when accessing your pension at 55 - Pembroke IFAs

Three points to consider when accessing your pension at 55

For the majority, from the age of 55 they have access to their pension. Should you be coming up to your 55th birthday, there may be a temptation to make a withdrawal, either as a one-off lump sum or as a source of regular income. However, this may result in a greater effect on your retirement lifestyle than anticipated if you draw from your pension at the first opportunity. If turning 55 is still some years away, bear in mind that in 2028 the pension age will rise to 57. However, the same considerations will continue to be applicable…