at what age can i pull my pension
When planning for a rollover, there are several other rules to keep in mind. For example, if you are age 55 or older when the separation from service occurs, you may take your company pension as a lump sum distribution without paying the 10% early withdrawal excise tax. You will be taxed on the distribution as ordinary income.
Each plan's rules vary (check yours to be sure), but you may be able take money out of your retirement account penalty-free before age 59 Â½ if you use it for expenses after the onset of a sudden disability, or for unreimbursed medical expenses that are more than 7.5% of your adjusted gross income (10% if youâre under age 65).