The Fund’s Normal Retirement Age (NRA) is age 65, but you can take benefits from your Pension Account at any time on or after your 55th birthday, (the Government proposes to increase this to age 57 in 2028).
It’s important to note, the earlier you take your benefits, the lower the value of your Pension Account is likely to be and therefore it is likely that the pension you’ll be able to buy with your Pension Account will be lower. This is because your Pension Account has had less time to build up and the cost of buying a pension is more expensive when you’re younger as it is likely to be paid over a longer period of time.
HM Revenue & Customs (HMRC) may allow you to take benefits earlier if you’re unable to work due to certain circumstances of serious ill health.
Visit Fidelity to find out more about your options.