If you are planning for retirement, it is important to be aware of upcoming changes to the age at which you can normally access your pension.

While these changes won’t affect everyone, they could have a significant impact on your retirement plans if you are going to be in your mid-50s in the next few years.

The normal minimum pension age (NMPA) is currently 55. However, the government is increasing the NMPA from 55 to 57 with the aim to keep the age at which people can normally access their pension/s around 10 years before State Pension Age.

When you reach the NMPA, you can choose to:

  • Take up to 25% of your pension benefits tax free (subject to the prevailing legislation and your individual circumstances)
  • Draw an income
  • Withdraw a lump sum
  • Keep paying into your pension.

If you were born on or before 5 April 1971, then you won’t be affected by the change, as you’ll have already reached the age of 57 at the time of the new implementation date.

There are some transitional rules expected to come in for those born between 6 April 1971 and 5 April 1973. If this is you, then you can access your benefits from the age of 55. However, you won’t be able to access any uncrystallised funds remaining in your pension after 6 April 2028 until you turn 57.

And if you were born on or after 6 April 1973, you won’t be able to access your pension funds until you reach the age of 57.

Your Financial Planner can help you understand how the new rules could affect your retirement planning

If you are unsure how these changes could affect your retirement plans, or you are considering accessing your pension before April 2028, we recommend speaking with your Financial Planner sooner rather than later.

They can review your pension arrangements, explain the options available, and help you decide whether taking benefits before the rule change is appropriate.

Some pension schemes provide members with a Protected Pension Age, allowing benefits to be accessed before age 57, provided certain conditions are met. Your Financial Planner can confirm whether this applies to any of your pensions.

Should you consider taking your pension before April 2028?

Not necessarily. Although some people may benefit from accessing their pension before the increase in the NMPA, doing so is not right for everyone. Taking benefits earlier could affect your retirement income, tax position and future financial security. It is important that any decision forms part of your wider financial plan

Get in touch

If you’d like to talk to us about these pension changes, or any aspect of your retirement planning, please get in touch and we’ll be happy to help.

Please note

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future. Please do not act based on anything you might read in this article.

HM Revenue and Customs’ practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.

Approved by The Openwork Partnership on 08/07/2026.