Retiring before you reach State Pension age (SPA) is possible, but it takes careful planning.

The earlier you stop working, the longer your money needs to last, and the more pressure it puts on your pension and savings.

Here are the key points to think about before you hand in your notice.

Know when your State Pension will start

SPA is currently 66, but it will rise to 67 by March 2028 for people born after April 1960.

According to Legal & General, nearly one in three adults in the UK do not know their exact SPA or how much they are due to receive.

Fill the income gap before SPA

If you retire before SPA, you must cover all living costs using private pensions, savings or investment income.

The full new State Pension rose to £230.25 per week in April 2025, but it will not be available until your SPA.

Without a clear plan, you risk running short in the years before that income begins.

Early access comes with trade-offs

You can normally access Defined Contribution pensions from age 55 (rising to 57 in 2028).

However, withdrawing money too early could reduce your future income and increase your tax bill.

The Department for Work and Pensions (DWP) is also reviewing the rules around tax-free lump sums.

Think long term, retirement could last 30+ years

Many early retirees underestimate how long they will live without work income.

The Institute for Fiscal Studies reports that people retiring in their late 50s could spend over 30 years in retirement. That is a long time to make your money last.

Research from King’s College London also found that staying in work longer supports better health, particularly among women.

Decide before you act

Leaving work early can be the right choice, but only if the numbers stack up.

You need a clear picture of how long your savings will last, what your State Pension will provide, and how your tax position could change.

Our advisers can help you build a plan that looks beyond a pension calculator. Speak to our advisers today to start your retirement planning the right way.