If you’re seriously unwell, you may be able to access your pension before the normal minimum pension age (currently 55, rising to 57 in April 2028). This is called ill-health retirement.
When can you take your pension early due to ill health?
You may be able to access your pension early if:
You’re unable to work ever again because of physical or mental health conditions. Your pension scheme must receive medical evidence from a registered medical professional confirming this before the process can begin.
In very serious cases, where your life expectancy is less than a year, you will qualify for a serious ill health early withdrawal with a more streamlined process, but the same evidence requirements apply.
The rules are set by UK pension legislation and your pension provider’s scheme terms. Each provider may have slightly different requirements.
What’s required to do an early ill health withdrawal with your Penny Pension 📎🩻
To take your pension early on ill-health grounds, you will need:
A written statement or any other medical evidence from a registered medical practitioner confirming you can’t work again, or a completed Penny Pension ill health form from a registered medical practitioner confirming you can’t work again. 👩🏽⚕️
In cases of serious ill health (life expectancy under 12 months), medical evidence confirming this. 🧑⚕️
A paper-certified copy of some ID and a Bank statement. 🪪
If you have all the evidence required, please drop us a message on live chat, and we can get the required ill-health form emailed out to you. 💬
Important:
You should not transfer your pension to Penny in order to try to access it early for ill-health reasons. Always apply directly with your current provider if you believe you qualify. All pension providers have to adhere to the legal requirements.
Any income taken from a pension could disqualify you from receiving means-tested benefits. Please do check this before starting the process.
Where to get help and advice ☺️
Free, independent and impartial support is available:
MoneyHelper – Guidance on pensions and ill health: moneyhelper.org.uk or call 0800 011 3797
Citizens Advice – Free support with financial, work, and benefits queries: citizensadvice.org.uk
GOV.UK – Apply for relevant benefits such as Personal Independence Payment (PIP), Employment and Support Allowance (ESA), or Attendance Allowance: gov.uk/browse/benefits/disability
Important note: Penny doesn’t offer advice and can’t tell you whether you qualify for ill-health retirement until we have seen certified medical evidence.