In April 2028, the normal minimum pension age (or NMPA) will rise from 55 to 57.
 
While there’s two and a bit years before the change, if you’re nearing retirement, it could affect your plans.

Read on to find out what’s happening, why it matters, and some smart steps to help you stay on track (or even retire early).

The retirement age increase is one of several initiatives

The change has been on the table since 2014, and is part of a wider initiative for pension changes.

Government has published analysis showing that:

• Retirees in 2050 are on course for £800 or 8% less private pension income than those retiring today.
• Almost 15 million people are under-saving for retirement [1].

And, in July 2025, work and pensions secretary, Liz Kendall announced a review of the State Pension Age.
 
Increasing life expectancy means more of us are living longer. The incoming changes are designed to provide more time to work and save, reducing the risk of outliving your retirement savings.

What the policy change means and who it affects

The age rise will mean that the earliest most people can start taking money from their personal or workplace pensions will increase by two years.

If you’re in your early 50s, and hoped to retire at 55, this may affect your plans.

If you were born on or after 6 April 1973, you’ll have to wait until your 57th birthday to access your pension savings. If you access them sooner, you could incur a charge.

If you were born on or before 6 April 1971, you can rest easy as the change won’t affect you.

Some pension schemes come with protected pension ages

This might apply to:

• Older workplace pensions
• SIPPs that legally promised access at 55
• Public service schemes (like police and firefighters).

If you were a member of any such scheme before November 2021, you may still be able to take benefits at 55.

If you’re unsure about how the change might affect your plans, get in touch. We’ll be delighted to answer all your questions.

5 smart steps to ensure you’re financially prepared 

1. Check your pension scheme to find out if you might have a protected pension age.

2. Bridge the gap – If you planned to retire at 55, you may benefit from increasing contributions to your ISA or other savings to help fund your retirement in the years before you’re able to access your pension.

3. Don’t rush in – If you’ll turn 55 in 2027, although you could start drawing from your pension before April 2028, don’t rush to do so just because you can.
 
4. Boost pension contributions – Diverting more to your pension pot while you’re working may mean you’re able to enjoy more flexibility later. Plus, leaving your pension savings invested for as long as possible could allow you potential to benefit from more tax-free growth.

5. Speak to a financial planner – Even without this kind of change coming along to upset your long-term plans, pensions and retirement planning can be complicated. A bespoke financial plan could give you peace of mind that you’re on track to enjoy the retirement you want – when you want.

Get in touch
Just because the NMPA is set to change, it needn’t automatically mean you can’t still retire at age 55. It’s all in the planning – and we’re here to you achieve the retirement you hope for.
To find out more about how we can help you, email info.wp@titanwh.com or call us on 0800 048 0150.

Please note
The information contained in this article is based on the opinion of Titan Wealth Planning and does not constitute financial advice or a recommendation for any investment or retirement strategy.
All information is correct at the time of writing and is subject to change in the future.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.
 
The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.
 
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
 
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

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