Your options when you retire
When you set up a Retirement Account you’ll be asked how you’d like to take your pension benefits. This is so the GIS can invest it as required as you near your retirement date. This means you can leave the investing up to Scottish Widows.
However, if your plans change, you can amend how you want to take your benefits or your chosen retirement date at any time.
The current minimum retirement age is 55 and that’s when you can start accessing your benefits. But that doesn’t mean it’s right for you and so, before making a decision, you should consider all your options. For example, you might just want to reduce your working hours and access only some of your benefits rather than stopping working altogether.