{"id":32944,"date":"2025-12-16T12:39:48","date_gmt":"2025-12-16T12:39:48","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/12\/16\/personal-pension-age-change-delays-access-to-savings\/"},"modified":"2025-12-17T12:46:11","modified_gmt":"2025-12-17T12:46:11","slug":"personal-pension-age-change-delays-access-to-savings","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/12\/16\/personal-pension-age-change-delays-access-to-savings\/","title":{"rendered":"Personal pension age change delays access to savings"},"content":{"rendered":"
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From April 2028, pension access rises to 57, impacting those born after April 1973 <\/td>Early pension access will be limited to those with ill health or protected pension ages <\/td>Many are worried about the upcoming change, so seek advice and review your plans <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
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A two-year increase in the normal minimum pension age could impact retirement planning for thousands of people. Under current rules, personal and workplace pension funds can be accessed from the age of 55. From 6 April 2028, the age limit will rise to 57 years.<\/strong> <\/p>\n<\/div>\n\n

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This means if you were born on or after 6 April 1973, you will have to wait until after your 57th birthday to access pension-based savings. If you were planning to access these funds before 2030, then you might want to rethink your draw down strategy. <\/p>\n<\/div>\n\n

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There are still some circumstances when you can access funds earlier than the normal minimum pension age, for example if you are suffering from ill health or have a protected pension age. Anyone born before 6 April 1971 will not be impacted by the change. <\/p>\n<\/div>\n\n

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Funding a happy retirement <\/strong> <\/h2>\n<\/div>\n\n
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The pension freedoms that were introduced in 2015 meant the over-55s could dip into their personal pension pots even while they were still working. As a result, the government is concerned that older adults will not have sufficient resources to provide for later life. <\/p>\n<\/div>\n\n

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A recent study found that the happiest retirees have an income of around \u00a31,700 per month, which equates to a pension pot of around \u00a3221,000 at retirement age1<\/sup>. However, 22% of retirees in the UK are living on less than \u00a31,000 a month, which is below the recommended minimum for covering essential costs later in life. <\/p>\n<\/div>\n\n

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With 63% of 50-year-old workers worried about the upcoming increase to the normal minimum pension age2<\/sup>, don\u2019t suffer in silence. We can advise on what the changes mean for your retirement planning. <\/p>\n<\/div>\n\n

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1<\/sup>L&G, 2025, 2<\/sup>Censuswide Survey, 2023 <\/p>\n<\/div>\n\n

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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

From April 2028, pension access rises to 57, impacting those born after April 1973  Early pension access will be limited to those with ill health or protected pension ages  Many are worried about the upcoming change, so seek advice and review your plans  A two-year increase in the normal minimum pension age could impact retirement planning for […]<\/p>\n","protected":false},"author":12,"featured_media":32948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,88],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/32944"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=32944"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/32944\/revisions"}],"predecessor-version":[{"id":32999,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/32944\/revisions\/32999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/32948"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=32944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=32944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=32944"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=32944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}