Early Retirement

Early Retirement













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Early Retirement

Usually, occupational pension schemes set an age at which they expect their members to retire. This is known as the normal retirement date. With early retirement, the retiree takes retirement before the normal retirement date. This may be due to ill health or they may have taken early retirement instead of redundancy. It may also be because the member has made extra pension savings so that they can afford to retire early. The rules have recently been changed on early retirement and people must now be aged at least 55.