When can I take my benefits?
If you joined the DC section before 6 April 2006 you may retire at age 50. Otherwise, the earliest age you can start to take from your Personal Account is 55, however this is due to rise to 57 in April 2028. You must take your retirement benefits on or before age 75. You don’t need to stop working for M&G to start drawing on your pension savings.
Selected Retirement Age (SRA)
Your SRA is the age that the DC Section Administrator believes you want to retire. Your SRA will be automatically set to 65 but you can change this if you have another age in mind.
It’s particularly important to consider your SRA if your pension is invested in one of the Lifestyle Profile options such as the Multi-asset Lifestyle Profile, as your SRA determines when your funds start to move into lower risk investments.
You can change your SRA through your Personal Account at MyPru.