How do I access my pension plan?
To get a pension, you can seek employment with an organization that offers pension benefits and then work there long enough to become eligible. Large private corporate employers may also offer pension benefits, but it's not as common as it used to be.
When can I access my pension money?
You can start taking money from most pensions from the age of 60 or 65. This is when a lot of people typically think about reducing their work hours and moving into retirement. You can often even start taking money from a workplace or personal pension from age 55 if you want to.
Can I withdraw from my premium pension account?
The RSA is similar to a bank account except that no contributor can withdraw money from the RSA before his/her retirement. The PFA is required to invest the money and issue statements of account at least once every quarter to the contributor or on demand.
Can I access my pension savings?
You can withdraw up to 25% of your pot tax-free, either as a lump sum or in smaller installments adding up to 25%. It doesn't matter how big or small your pension pot is, everyone is entitled to take a quarter of their savings without paying income tax.