Relationship with money

Unable To Work Due To Ill Health

Safeguarding Your Financial Future

At Grape, we build the strongest understanding of you, your individual circumstances and your relationship with money. This helps us to tailor our advice specifically to you, helping you to reach the best possible financial outcome whatever your situation.

For more information on how we can help you protect your financial health.

Protection/Pensions – Unable to work due to ill health

Will I be disadvantaged/penalised for retiring early?

Having to retire early for whatever reason – especially ill-health – can be a very daunting situation. If you may no longer be able to work, you will naturally be concerned your financial future will be compromised.

You can usually retire from the age of 55 – but your State Pension will only become available to you when you reach the defined age (at least 65, this will be later for most people born after 1953).

However, if you’re retiring as a result of ill-health, you may be able to take your own Pension benefits before the age outlined by your Pension provider.

If you have serious ill-health or limited life expectancy of less than a year, then with HMRC approval, you are able to retire at any age and take your Pension in a variety of ways. We can advise you of your options at such a difficult time.

Your State Pension, Workplace Pension and any Personal Pensions may be less if you retire early than if you were to continue working. Getting the right advice and guidance on your journey to early retirement is crucial in securing the best financial outcome for you and your family.

If my health declines, what are my Pension options?

Different Pensions have different policies and procedures which you will need to follow should you need to retire early due to ill-health.

It’s also important to have plans in place to protect your Pensions and investments from the impact of serious ill-health, accidents, redundancy or other types of unexpected situations.

Can I retire early to care for a family member or friend?

If someone dear to you falls into ill-health and you become their carer, the last thing on your mind is organising your Pension or retirement fund – your main priority is ensuring you’re there for them in their time of need.

But your financial health shouldn’t be ignored!

In order to receive a full State Pension when you arrive at retirement age, you must have paid National Insurance contributions for a minimum of 35 years.

Can my pension be enhanced due to ill-health?

Outside of the State Pension, you could be entitled to ill-health benefits if your health deteriorates. If you’re permanently unable to work up to the State Pension retirement age, the benefits could be increased to compensate the need for early retirement.

Your entitlement again depends upon your individual circumstances.

How To Find Us

Number One
The Cloisters
10-12 George Road
Edgbaston, Birmingham
B15 1NP


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Grape IFA Ltd is an appointed representative of TenetConnect Limited, which is authorised and regulated by the Financial Conduct Authority. TenetConnect Limited is entered on the FCA register ( under reference 149826.
Grape IFA Ltd is registered in England and Wales under reference 8141882.
Registered office address: Fulford House, Newbold Terrace, Leamington Spa, Warwickshire, CV32 4EA. Tel: 0121 366 9272. The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.