Starting out

When you’re young, saving for the future might not seem like a priority.

You can take money from your Account at any time from age 55, changing to age 57 in 2028.

You don’t need to decide now when you want to retire, but the sooner you start saving, the better, as then your money has more time to grow. It's assumed when you join the Mastertrust that you'll want to retire at age 65, but you can choose a different age at any point. When you think about when you want to retire, remember that the State Pension age is increasing and the earliest you can expect to receive this is currently age 68. So, if you’re hoping you’ll be able to retire before then, you need to start saving now

To find out what you’ll be able to do with your money when you reach retirement, watch our short video below which explains the different options available.


This section explains what to expect when you reach retirement and how to plan for it.

Find out more