You can access up to 25% of your pension tax free at 55. You don't have to take it all at once You can take smaller amounts of tax-free cash over time You can blend your tax-free cash with taxable withdrawals to reduce your overall tax liability But, you should be aware that: Taking large amounts of your pension early in retirement could leave you short in later years. Once you take the money out of your pension it becomes liable for inheritance tax if you die. Money held in your pension is currently exempt  You should also be aware that as soon as you start taking your pension as regular income you will trigger the Money Purchase Annual Allowance and you'll be limited to how much you can top your pension up by and still receive tax-relief.