Early Retirement Age Increase from 55 to 57

Published / Last Updated on 05/09/2020

The government has confirmed that the earliest age you will be able to draw pension benefits is to be increased from age 55 to age 57.  Government has also confirmed that this will be in place by 2028.

This broadly falls into line with state pension age increases from 65, now 66 with age 67 being phased in between 2026 and 2028.

In very simple terms, private and company pension retirement ages are usually 10 years before state pension age, so the move to age 57 when state pension ages increase to 67 is no surprise.

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