In the UK, you can start taking money from a private pension from age 55. This is changing: from 6th April 2028, the earliest age most people can access a private pension will rise to 57.

This guide explains the key pension ages, what is changing in 2028, and how to check what the rules mean for you.

The age your pension scheme defines for you to take benefits (your scheme’s ‘standard’ retirement age).

The retirement date you have told your pension provider you are aiming for (if different from the scheme’s normal pension age).

The age you can claim the State Pension from the government (this is separate from your private pension).

The earliest age most people can legally take benefits from a private pension (unless an exception applies).

Some older pension schemes let you keep a lower minimum access age (for example 55) even when the NMPA increases, if you meet the scheme’s conditions. Your provider can confirm whether this applies.

Your scheme’s NPA varies by provider but is commonly 60, 65 or linked to your State Pension Age (SPA). You can usually find your NPA in your scheme documents, annual statement, or by asking your pension provider.

You may be able to take benefits before the usual minimum age in limited situations, such as ill-health early retirement. In addition, some schemes have a protected pension age (an earlier minimum age set under the scheme rules).

• From 6 April 2028, the NMPA increases from 55 to 57 for most private pensions.

• If you are 55 or 56 on 6 April 2028, you may not be able to take further benefits until you turn 57 (even if you have already started taking some money).

• Your provider can confirm the exact rules for your scheme, including whether you have a protected pension age.

Members of the firefighters, police and armed forces public service pension schemes are not affected by this increase.

If you receive a cold call, text, email or visit telling you that you can access your pension earlier than the legal minimum age, it’s likely to be a scam.

Do not share personal information or move money based on an unexpected approach. You could lose money and may face a large tax bill.

Common warning signs include:

• Unsolicited contact by phone, text, email or in person. (Cold calling about pensions has been banned since January 2019.)

• They won’t let you call them back or verify who they are.

• High pressure tactics: pushing you to act quickly, transfer your pension fast, send documents by courier, or meet a ‘representative’ urgently.

• Suspicious contact details (for example, only a mobile number, only a PO box address, or no clear company address).

• Claims they can ‘unlock’ your pension before the minimum age (sometimes called pension liberation or pension loans) except in rare cases such as serious ill health.

• Promises of tax loopholes or guaranteed / unusually high returns with “low risk”.

• Offers like ‘one-off investments’, ‘time-limited offers’, ‘upfront cash incentives’, ‘free pension reviews’, ‘legal loopholes’ or ‘government initiatives’.

• Claiming to be from a legitimate organisation that you have not asked to contact you.

• Multiple parties involved with unclear roles (the more complexity, the higher the risk).

Your pension provider’s estimate of your retirement income is usually based on you taking your pension at the normal pension age for your scheme.

This is because your pension provider typically assumes you will:

• continue working and paying into your pension until you retire

• (if employed) your employer will continue paying in

• not take any income from your pension before you retire

• give your pension more time to benefit from investment growth (for defined contribution pensions)

So, if you start taking money earlier than assumed (or stop paying in), your actual retirement income may be lower than the estimate.

If you want help understanding your options, contact us.