Minimum retirement age

From the 6 April 2006 the minimum retirement age will be age 50.  If you have an existing right under your plan, due to your occupation for example, to retire before 50 you will continue to keep this right.

The minimum retirement age will then increase to age 55 from 6 April 2010.  Again, anyone with an existing right to retire earlier than this age will keep this right, for example those in specialist professions or members of occupational pensions schemes.

If these changes affect your plans, either because you simply planned to retire before the minimum age or you have existing financial commitments, such as a pension mortgage plan, you should speak to an adviser.