55 next year and have two small 'deferred company pensions'

wiltslad

I reach age 55 next year and have two 'deferred' pensions fro previous employers.

Is a deferred pension something I can withdraw under new government laws regarding accessing pensions from age 55?

atush

Depends on what kind of pensions they are? DB/final salary no- these aren't civered under the new rues.

DC/money purchase maybe- you might have to transfer if your provider doesn't support the new rules.

AS a side note, are you retiring at 55? Can you afford to? Or will you be spending this money now (that is supposed to be used in retirement?). What will you live on if you do?

xylophone

Depending on which scheme, it might be possible to access deferred benefits (with or without actuarial reduction, depending on scheme rules) from as early as 50 - example here https://forums.moneysavingexpert.com/discussion/5302645 post 5.

However, this is not the norm and you would have to contact your pension administrators to examine options in your case.