Are you planning to retire early?

In April 2028, the government is raising the minimum age when people can start taking their pension benefits from age 55 to 57.

The last time it changed was in 2010, when it went up from 50 to 55. However, all the deferred members in the Sainsbury’s Pension Scheme (Sainsbury’s Section) have a protected pension age of 55 and won’t be affected by this latest change – although it’s important to realise that if you transfer your pension out of the Scheme, you may lose your protected pension age (PPA) status.

So, before you make any decisions about taking your Scheme benefits, make sure you understand the impact of your choices on your PPA.