Is there a pension scheme i can withdraw some of my pot before 55?

NoMore

Baldytyke88 said:

Can a private pension still be claimed at 55, when will it be 10 years before the state pension?

It's changing to 57 in April 2028, there was an intention by previous government to peg it to 10 years before SPA but the legislation does not say this just that it is changing to 57. Whether the current or future governments implement the 10 years before SPA, who knows? 

LHW99

And from April 2028, the minimum age of access will be 57, unless the scheme has a protected minimum

https://www.gov.uk/government/publications/increasing-normal-minimum-pension-age/increasing-normal-minimum-pension-age

Marcon

Baldytyke88 said:

Can a private pension still be claimed at 55, when will it be 10 years before the state pension?

The minimum age at which you can access a private pension is 55 (rising to 57 in 2028), other than in ill health.

If it's a defined benefit scheme, then it depends on the rules - you may not be able to access until the scheme's normal retirement age (NRA). More likely you will be able to access it with a reduction in the starting level of the pension because it will be payable sooner and for longer than if you take it at NRA and you will normally need trustee/sponsoring company consent.

GDB2222

DullGreyGuy said:

flaneurs_lobster said:

Not unless you are seriously ill or dead.

Technically if you are dead you cannot withdraw it

I once arranged an annuity for someone who had already died.

Marcon

GDB2222 said:

DullGreyGuy said:

flaneurs_lobster said:

Not unless you are seriously ill or dead.

Technically if you are dead you cannot withdraw it

I once arranged an annuity for someone who had already died.

Doubtless one of the few occasions where the annuity provider knew both the DOB and DOD!

Aretnap

GDB2222 said:

DullGreyGuy said:

flaneurs_lobster said:

Not unless you are seriously ill or dead.

Technically if you are dead you cannot withdraw it

I once arranged an annuity for someone who had already died.

Hope he got the enhanced rate for ill health!

MEM62

fitzykev said:

Is there any pension schemes where i can withdraw some of my pot before the age of 55?

Perhaps you are missing the point of a pension - which is to provide for your retirement years.  (Not many get to retire before 55)  If you want to access money in you younger years you will need a different tax-wrapper such as an ISA.  

Aged

When you reach retirement age, every little helps. Don't do it!