Can I cash in my pension early? Rules and exceptions explained

Financial advisors say it should be last resort but essential funds are sometimes needed

A retirement age of 60 or 65 applies to most pension schemes

A retirement age of 60 or 65 applies to most pension schemes

It may not be recommended by most financial advisors, as it could impact you in retirement, but many of us may have needs that require access to an additional source of funds, such as a pension, at particular points in time.

“Our overall view is normally that anyone who has pension funding should not be looking at ‘how soon can I access’ but rather ‘how long can I leave it invested’,” says Liam Naughton, associate director in Grant Thornton Financial Counselling. “It’s very much a last resort, but it can great to be able to access it if it’s absolutely essential.”

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