17 Jun 2026

Private pension age is rising to 57: will your retirement be affected?

From April 2028, the age at which you can access your private pension will rise to 57

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Millions of savers could be caught out by a looming change to the age at which they can access their private pensions.

Under current rules, you can usually start taking money from your private pension from 55. But this is set to rise to 57 from 6 April 2028.

Our research suggests widespread confusion about the current rules: in our recent survey, half of adults yet to retire failed to correctly identify 55 as the age at which you can currently access private pensions.

Here, we explain what’s happening to the minimum pension age and what to consider before accessing your retirement savings.

When can you access your private pension?

Under current rules, the earliest you can access money in your private pension is 55.

But in our recent survey, one in six of those yet to retire incorrectly said the above was a false statement, with a further third saying they don't know.

The normal minimum pension age (NMPA) is the earliest you can access money in your private pension, without facing a significant tax charge.

There are some exceptions. You may be able to access your retirement savings sooner if you’re retiring early for health reasons or if your pension scheme has special conditions that allow you to access it earlier.

From 6 April 2028, the age at which you can access your pension will rise to 57, under changes announced in 2014.

Gary Smith, partner in financial planning and retirement specialist at wealth management firm Evelyn Partners, says: ‘The primary reason for this increase is that people have been living for longer, so the authorities and pension industry are aiming for a greater level of sustainability across savers’ retirement timeframes.

'It is also designed to coincide with the increase of the minimum state pension age to 67, so that it tracks 10 years below the state pension age.’

Find out more: how much will I need to retire?

Will the pension age rise affect you?

While this rule change may sound simple enough, Smith explains why a particular two-year cohort need to pay close attention.

While the regulations are still to be finalised, HMRC has issued an update explaining how it intends the transition to work.

Under the proposals, those who turn 55 between 6 April 2026 and 5 April 2028 will have an option to keep receiving money from their pension, if they've already started accessing it. Otherwise, access to their pension will be delayed until they turn 57.

This table summarises how the proposed rules will work:

If you turned 55 before 6 April 2026	If you turn 55 between 6 April 2026 and 5 April 2028	If you turn 55 after 5 April 2028
You're not affected by the rule change: the earliest you can access your private pension is 55.	You'll be able to access your pension once you turn 55, but your pension age could jump to 57 in April 2028, depending on your course of action.	You are affected by the rule change, but in a fairly straightforward way: you won't be able to access your private pension until you turn 57 in most circumstances.

If you have a firefighter, police or armed forces public service pension, you're not affected by the changes.

If your pension scheme has special conditions that allow you to access it earlier – known as a protected pension age – these will continue to apply. Speak to your pension provider if you’re unsure.

Find out more: public service pensions.

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What it means for those caught in the middle

HMRC's proposals are designed to ensure that anyone already receiving money from their pension can continue to do so without interruption.

Smith says for those 'caught in the middle' (those who turn 55 between 6 April 2026 and 5 April 2028), it all depends on whether you take action to access your pension in that period:

If you haven’t taken any money from your pension before the rules change on 6 April 2028, you won’t be able to access it until you turn 57.
If you have started to receive money from your pension pot (by buying an annuity, moving into drawdown or receiving a defined benefit pension), you’ll be able to continue to receive these payments. However, once the rules change, you won’t be able to move any more money into a drawdown, buy a new annuity or start taking money from a defined benefit scheme until you reach 57.

Find out more: how long does my pension need to last?

What to consider before accessing your pension

Most people won’t need to drastically change their retirement plans, as they won’t retire until much later anyway.

In 2025, the average age of exit from the workforce reached a high of 65.8 for men and 64.7 for women, according to the Department for Work and Pensions (DWP).

However, it’s important to understand how the proposed changes could affect you – especially if you plan to retire early or intend to take money from your pension before you stop working.

Here are three things to consider before accessing your pension:

1. Don't rush your decision

If you're among those affected by the transition, it can be tempting to access your pension before the minimum pension age rises to 57.

However, Smith warns that the rule change alone shouldn't dictate when you start taking retirement benefits.

'It all depends on whether they take action to crystallise their pension in that period. That doesn’t mean, of course, that they should do so, because for most savers this will be too early an age to start accessing their pension.

‘All it means is that they must realise that their NMPA will jump in April 2028 and block them from their private savings – at least, without suffering a tax penalty – for anything up to another two years.

‘Let’s say you reach your 55th birthday on 6 March 2028, but don’t access your pension before 6 April 2028. You won’t be able to take retirement benefits until you reach your 57th birthday on 6 March 2030.’

Find out more: best pension drawdown providers.

2. Check whether you have a protected pension age

You may be able to access your pension earlier if you have a protected pension age. Speak to your pension provider if you’re unsure.

If you’re considering transferring your pension, be aware that this could affect your protected pension age.

Find out more: pension drawdown calculator – making your money last

3. Plan how you'll bridge the gap

If the rule changes mean your pension age has straightforwardly risen to 57, but you plan to retire before then, you’ll need to make sure you have arrangements in place to bridge the gap.

If you turn 55 between 6 April 2026 and 5 April 2028 and plan to start taking money from your pension at that point, you’ll need to consider what HMRC's proposals could mean for you:

It's likely that you'll be able to receive payments that have already started, but you won’t be able to crystallise any new pension benefits for a period between 5 April 2028 and your 57th birthday.

Think carefully about how much money you’ll need from your pension: generally speaking, the longer you can leave it untouched, the longer it has to grow.

Find out more: more savers are taking their pension in one go – should you?

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In May 2026, Which? surveyed a nationally representative sample of 2,000 adults in the UK, of which 1,737 were yet to retire. The overall data has been weighted to be representative of the UK population (aged 18+).