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Pension before age 55

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Comments

  • camelopardis
    camelopardis Posts: 77 Forumite
    Part of the Furniture 10 Posts
    Some pension schemes have a protected retirement age before aged 55.

    I'm a member of both a final salary scheme and a money purchase scheme, both of which have a protected NRD of 50
  • PensionTech
    PensionTech Posts: 711 Forumite
    Some pension schemes have a protected retirement age before aged 55.

    Covered in posts #4 and #5 above.
    I am a Technical Analyst at a third-party pension administration company. My job is to interpret rules and legislation and provide technical guidance, but I am not a lawyer or a qualified advisor of any kind and anything I say on these boards is my opinion only.
  • peterg1965
    peterg1965 Posts: 2,164 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I started drawing my public sector final salary pension at 49 last year. Its a legacy scheme and that option is not possible for new starters. There are probably still a few around with that option - AFPS, Firefighters, Police?
  • PensionTech
    PensionTech Posts: 711 Forumite
    Some will, if it was built into the terms of the scheme. There is no definitive list of which occupational schemes had those terms, though I would be thinking along the same lines as you. For personal pensions, there is a list of prescribed occupations in which people could take their benefits before age 50. These are mostly sportspeople and those in dangerous jobs. People who qualified for those terms on 5 April 2006 were allowed to retain them. That point is also covered in post #4.
    I am a Technical Analyst at a third-party pension administration company. My job is to interpret rules and legislation and provide technical guidance, but I am not a lawyer or a qualified advisor of any kind and anything I say on these boards is my opinion only.
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