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If you were a member of a previous employer’s pension scheme, you may be able to take early retirement from the scheme before the normal retirement age of the scheme.
The normal retirement age of the scheme is defined in the scheme rules, and you should be able to find this on your pension statement.
Whether or not you are able to will depend on the rules of the scheme, and potentially when you were employed.
As you are taking your pension benefits early, it is likely that the scheme will need to make pension payments to you for a longer period of time. For this reason many schemes apply a reduction to the lump sum and pension available before normal retirement age.
In most cases taking your pension benefits early will reduce your retirement income, and is therefore not suitable for most people or circumstances.
Payment of pension benefits early is usually at the discretion of the scheme trustees.
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