I have rrms and have had for around 4 years now.
I am obviously very worried about my future.
I am 46 years of age and I am wondering whether I can take part of my pension early?. And if so, surely hmrc will not deduct 55 percent of it,?
Any replies would be great. Thankyou


I work in financial services and it’s unlikely they would allow you to access your pension early I’m afraid. The early access rule is normally reserved for people with serious/terminal illness, so early access under any other situation would likely attract penalties which can really mount up and as a result the scheme administrator would be unlikely to permit it. However this article here does suggest if you can no longer work it might be possible so it’s worth asking your scheme administrator:

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Brilliant answer from Teddybear :+1: - someone who knows the rules.

At risk of being patronising, don’t overthink it! You’re over 20 years from retirement age and chances are with the right DMT’s, you may be able to work until retirement age anyway. That said, none of us on here know your current areas or level of impairment, rate of disease progression and/or effectiveness of DMT’s. Caught early enough (and 4 years is early), the right DMT’s effectively stop relapses or progression in some fortunate cases.

If you could enlighten us to the type of work you are employed in and information about your condition, we could comment further.

Not sure where you got 55% deduction from. Were you referring to age 55 when you can start to draw your private pension?