Personal Pension - Age I can take benefits?

[audi321]

I am a couple of years out of touch with the world of pensions, but I seem to recall reading a year or so ago that the age in which you can take a personal pension is going to be linked to '10 years before State Retirement Age'. Which for me is age 67, so 57.

Does anyone in the know, actually KNOW if this came into force? Google seems to think it was scrapped, but also confusion as there are sites which say it's coming for anyone under age 45 now.

Complete farce if you ask me........when I started work, I could take a pension at age 50, then 55, now 57......I wouldn't mind but it's my money!

[Jockman]

The proposal for 67 is from 2028.

So 55 at the moment, subject to the specific rules of the scheme.

[audi321]

Cheers Jockman.

So proposal........is that still the case? So nothing confirmed yet? Nothing concrete?

[Jockman]

Nothing concrete that I can find.

First mooted in 2014 by the Coalition Govt but mere 'consultation' since then.

At some stage they will tinker again. I can feel it in me bones

[superkartracer]

audi321 said:

I am a couple of years out of touch with the world of pensions, but I seem to recall reading a year or so ago that the age in which you can take a personal pension is going to be linked to '10 years before State Retirement Age'. Which for me is age 67, so 57.

Does anyone in the know, actually KNOW if this came into force? Google seems to think it was scrapped, but also confusion as there are sites which say it's coming for anyone under age 45 now.

Complete farce if you ask me........when I started work, I could take a pension at age 50, then 55, now 57......I wouldn't mind but it's my money!

It's no big deal really , just save the cash to plug the gap from say 55 to 57/8/9 etc so you can still retire at 55.

[oyster]

audi321 said:

I am a couple of years out of touch with the world of pensions, but I seem to recall reading a year or so ago that the age in which you can take a personal pension is going to be linked to '10 years before State Retirement Age'. Which for me is age 67, so 57.

Does anyone in the know, actually KNOW if this came into force? Google seems to think it was scrapped, but also confusion as there are sites which say it's coming for anyone under age 45 now.

Complete farce if you ask me........when I started work, I could take a pension at age 50, then 55, now 57......I wouldn't mind but it's my money!

The constant tinkering is frustrating. It is your money, but you've invested it in a government-sponsored scheme with massive tax benefits. Which is why a balanced retirement portfolio needs to include many classes of investment to allow for such government tinkering.

[red_slr]

Discussed a while back

https://www.pistonheads.com/gassing/topic.asp?h=0&...

The bottom line nothing has been made legal yet, but it is expected to come in at some point.

Possibly going as high as 60 but no one knows.