Conditions for taking retirement benefits at age 50?

[sartay]

Hi,

I'm just wondering if anyone can confirm what are the conditions for taking a pension at age 50?

I understand that if you have an occupational pension, you can take retirement benefits at age 50 with the permission of the employer and trustees. Are there any other conditions however? Would you have to be retiring from your job as well? If so, could you take a new job somewhere else after or do you have to be retiring permanently?

I understand that with a PRSA you can definitely take benefits at age 50 as long as you are an employee and are retiring from your job.

Just wondering how straight forward this is or if there are additional conditions or restrictions that apply to the above?

Thanks in advance

 

[Dave Vanian]

Would you have to be retiring from your job as well?

Yes.

If so, could you take a new job somewhere else after or do you have to be retiring permanently?

You can take a job somewhere else.

 

[sartay]

Thanks for your reply!