You can start to take benefits from your Collegia Personal Pension from the normal minimum pension age of 55. However, you do not have to start taking any benefits when you reach 55, nor do you have to stop working to start taking benefits from your pension.

When you open your pension, you will be asked to confirm your intended retirement age, but you are not held to this and can change this later if you wish. Collegia will use your intended retirement age so we can contact you as you approach it to explain the options you have.

Under some circumstances you may be able to take benefits from your plan before the age of 55. These include:

If you become incapable of carrying on your occupation because of ill health.
If you are diagnosed with a terminal illness that means you have a life expectancy of less than a year. In this case you can choose to take your pension benefits as a lump sum.
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