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If you’re aged 55 or over you can start your payments at any time between now and your 75th birthday. You can take up to 25 per cent of your PPF benefits as a tax-free lump sum.

The earlier you start your PPF benefits, the lower your monthly payments will be, as they’re spread out over a longer period. 

We know everyone has different circumstances so you may find it useful to get advice from an independent financial advisor.

If you’re thinking about starting your payments, find out how you can do this using the Quote and Retire feature on our member website

Find out how much you could receive

Try our simple Benefit Modeller tool on our member website to find out how much compensation you can expect to receive if you choose to start your payments early, late or when they were due from your original pension scheme. You can also see how your payments might be affected if you take a tax-free lump sum.

Read more about the Benefit Modeller