Minimum pension age to hit 57 under government plans

At present, people aged 55 can access their retirement funds but the age limit is likely to increase by two years under plans laid out by the Treasury. The Treasury consultation said the government intended to legislate to increase the normal minimum pension age to age 57 on 6 April 2028. It said: "Increasing the normal minimum pension age reflects increases in longevity and changing expectations of how long we will remain in work and in retirement. "Raising the normal minimum pension age to age 57 could encourage individuals to save longer for their retirement, and so help ensure ...