personal finance

Pension warning: Early retirement could impact your state pension, savings & benefits

This will be if a person is retiring due to ill-health, or they had the right to access under the scheme they joined before April 6, 2006 to take a pension before 55.

Retiring because of poor health could also mean a person might be able to get higher payments, although they should check with their provider.

It is important to note a pension pot which a person builds up will probably be smaller if they retire early.

This is because it has had less time to increase in value, and so Britons could have to adjust their finances. 

Benefits are another aspect of life which could be impacted by a decision to retire early.


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