Typically, the earliest date at which you can access your Smart Pension account is your 55th birthday (changing to 57 on 6 April 2028).

There has been an increase in third-party companies claiming that they can help you access your pension savings before age 55. Please remain vigilant, as these claims may be a pension scam. Visit our How to be Scam Smart member support page for more help understanding scams and guidance on what to watch out for.

There are a few circumstances in which you can access your pension savings before age 55. Please read the information below carefully, as there are specific rules around how you can do this.

Please read this section carefully, as there are specific rules around how you can do this.

You may be able to access your pension savings earlier than age 55 if you’ve become physically or mentally incapable of continuing your job and have stopped working. As well as meeting HMRC’s rules, we’ll need medical evidence confirming that you will no longer be able to continue your job as a result of injury, sickness, disease or disability.

If this happens, you’ll be able to access your pension savings in the same way as you would if you were retiring after the normal minimum pension age. Any money you take will be taxed in the same way.

If you are seriously ill, you can access your pension savings earlier. For example, if you’re diagnosed with a very serious or terminal condition, where your life expectancy is determined to be less than 12 months, you may be able to take the whole of your pension savings as a lump sum.

If this happens before you reach the age of 75, the money will be tax-free (provided you have a lifetime allowance available). If you’re over 75, the lump sum will be taxed at your marginal income tax rate.

Protected retirement age

Some pension arrangements, typically the older type of pension schemes, have offered an early retirement benefit (typically referred to as a protected retirement age). You would have been notified at the outset of this benefit or received communications mentioning this additional benefit.

If you’re not sure whether your pension has this benefit, you can get in touch with us using our contact form.

Some pension arrangements, typically the older type of pension schemes, have offered an early retirement benefit (typically referred to as a protected retirement age). You would have been notified at the outset of this benefit or received communications mentioning this additional benefit.

If you’re not sure whether your pension has this benefit, you can get in touch with us using our contact form.

If you opt out of the pension scheme within a month of being automatically enrolled, you’ll receive a refund on your contributions.

If you leave your pension scheme more than a month after you were automatically enrolled, you’re outside the opt-out window. In this case, you have ceased membership and aren’t eligible for a refund on the contributions you’ve made. You won’t make any future contributions, and the contributions you’ve made will stay invested until you’re able to access them until age 55 (changing to 57 on 6 April 2028).

If you’re experiencing financial difficulties, there are organisations that can help.