What if I need to access my Pension early due to ill health?

You may choose to access your pension before the age of 55 (rising to 57 from 2028) because of your health.

There are a couple of options available depending on your situation:

Serious ill health If you’ve been given a life expectancy of 12 months or less, you may be able to access your pension earlier than usual on the grounds of serious ill health. You’re able to take your full pension in cash. This option is known as a ‘serious ill health lump sum’.

If you’re younger than 75, this will normally be tax-free, but if you’re older than 75 then you’ll normally need to pay tax on this. The taxes you’ll pay will depend on your circumstances and rules could change in the future.

Ill Health If you’re no longer able to work due to illness or disability, you may also be able to access your pension earlier than usual.

If you are in this situation then you can choose how you want to access your pension. You can either:

Buy a guaranteed income:

This is known as an annuity. Based on the value of your pension an insurer will work out how much income you’ll get. They’ll convert your pension into an income either for life, or for an agreed number of years.

Take your full pension in cash:

This option is known as ‘uncrystallised fund pension lump sum’.

Normally, 25% of the lump sum is tax free. The tax you pay on the rest will depend on your personal circumstances.

What do I need to do if I'm considering accessing my Pension early due to health reasons?

We're sorry that you're considering taking your pension early due to ill health. Rest assured we'll do all we can to make this process as easy as possible.

We'll need some supporting evidence from a registered medical professional, before we can review your case. Please can you print the relevant document found below and share with your medical practitioner, asking them to return it to you once complete. These documents need to include a surgery stamp as well as a signature.

Ill Health Medical Declaration

Serious Ill Health Medical Declaration

When they've returned the completed form to you, please complete this form and we'll ask you to upload a photo of the medical evidence as well as ask some other questions about your situation.