Pension changes: What you need to know if you turn 55 between April 2026 and April 2028

If you were born between 6 April 1971 and 5 April 1973, there’s a key pension change coming up that could be important for you.

From 6 April 2028, the Normal Minimum Pension Age (NMPA) will rise from 55 to 57. This is the earliest you can usually access your defined contribution pension(s) (also known as a DC pension). This might include workplace or personal schemes.

Those born before or on 5 April 1971 won’t be affected as you’ll already be 55 by the time this change comes into place. And individuals born after 5 April 1973 will have the earliest date they can access their pension benefits delayed by two years.

However, there’s a slight quirk for people in that 1971 to 1973 bracket. 

If you turn 55 between 6 April 2026 and 5 April 2028, you’ll have a short window to start drawing from your pension. If you don’t, you’ll have to wait until your 57th birthday to access your pot.

Find out why, what it might mean for you, some examples of how this could work in practice, and what to think about before you act.

Please note: work on the transitional regulations supporting the implementation of the increase to the NMPA is ongoing. These regulations are intended to ensure that individuals who are entitled to and have already begun receiving their pension benefits can continue to do so without interruption. 

As the transitional regulations have not yet been finalised, please note that this article is based on our understanding as of March 2026 and shouldn’t be taken as advice. Further details may emerge as the work on transitional arrangements concludes. Please see GOV.UK for more information.

The rule change creates a window for those born between 6 April 1971 and 5 April 1973 to access their pensions

You can find out more details about the upcoming changes in our guide to what’s happening from 6 April 2028. 

In summary:

• since 2010, you’ve been able to start accessing a defined contribution pension from the NMPA of 55;
• there are various different ways you can start drawing your pension, including taking 25% tax-free, going into pension drawdown, buying an annuity, and more;
• the NMPA will rise from 55 to 57 on 6 April 2028;
• if your date of birth is between 6 April 1971 and 5 April 1973, you turn 55 within two years of this change;
• that creates a window in which you’ll be able to access your pension while you meet the criteria;
• if you don’t unlock (or ‘crystallise’) your savings before 6 April 2028, you then won’t be able to before you turn 57; and
• this could be up to two years longer depending on when your 57th birthday falls after the age change.

Essentially, if your date of birth is within that age range, you’ll be able to access your fund before 6 April 2028. Crystallising (that’s, unlocking) your savings will mean you retain access, even if you’re then under 57 once the age limit rises. 

There are various pros and cons to crystallising your pension at 55 to ensure you have access to it ahead of your 57th birthday. 

For instance, drawing your pot could allow you to retire sooner. So, you might want to access your savings before the age change so you can give up work.

But you could also run the risk of spending the money in your pot quicker. This is a large part of why the government is putting this change in place. 

Life expectancies are rising, making it more likely that you’ll need enough in your pension to last for a longer life. The delay in accessing could give you a few additional years of contributions and investment growth. This could result in a larger pot, ensuring that you can support yourself throughout the whole of your retirement.

Depending on how you access your pension, you could also trigger the money purchase annual allowance (MPAA). This limits how much you can tax-efficiently pay into your pension each tax year moving forwards (2025/26).

Read our guide to the changes for some more things to consider before you access your fund.

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Examples of how the rule changes work

So how does this work in practice?

Imagine that you were born on 1 July 1972, and turn 55 on 1 July 2027. In that case, you won’t turn 57 until 1 July 2029.

Here are two different outcomes of what could happen before and after 6 April 2028, depending on whether you draw from your pot once you turn 55.

Example 1: you access your fund at 55

• you access your pot as soon as you turn 55 on 1 July 2027;
• as this involves crystallising your fund, you’ll be able to continue taking funds you have elected to designate into drawdown moving forwards, without waiting until your 57th birthday on 1 July 2029; but
• if you draw taxable income from your pot, you’ll trigger the MPAA. This would see your annual allowance permanently reduced to £10,000 a year. This assumes that the rules stay the same as they are in the 2025/26 tax year.

Example 2: you don’t access your fund before 6 April 2028

• you don’t touch your pot ahead of the age increase on 6 April 2028; and
• you now won’t be able to until you turn 57 on 1 July 2029.

Don’t rush - take your time and make an informed decision

Before you act to ensure you can access your pension, it’s worth taking a beat to decide whether it’s the right choice.

Without planning ahead, you could arrive at or after 6 April 2028 thinking you’ll be able to draw your pension, only to discover that you can’t until you turn 57. That could lead you to have to delay retiring, or even create a shortfall that you have to cover until you can withdraw from your pot.

You could only have to wait a few days or weeks. But it could be a matter of months, or even almost two years. 

Equally, just because you can draw your pension at 55, doesn’t necessarily mean you should. Leaving your savings untouched until 57 - or later - could be more appropriate. This might potentially help your savings last the whole length of your retirement.

In fact, if you hadn’t planned on drawing from your pension before 57, you don’t need to do anything. You can simply stick to the plan you already had.

Either way, it’s worth being aware of these changes and thinking about what you want to do now so there are no surprises later.

Depending on your situation, it might also be worth speaking to an Independent Financial Adviser (IFA). As an impartial professional, they’ll help you come to the right decision for you.

You could also use the PensionBee Pension Calculator to see how much income your pension might generate in retirement. You can factor in changes such as when you want to retire, and see what sort of income your pot could provide from 55 or 57 to help you make an informed choice.

Risk warning

Please note that tax rules change regularly, and the actual tax benefits you receive will depend on your individual circumstances. If you’re not sure, please seek professional advice.

As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.