Yes – the best way to do this is to think about when you want to retire and pick a pension plan duration that fits with your plans for retirement.


It’s also possible to stop saving and withdraw the money before the end date if you want to, and it’s possible to keep the money invested for longer than your chosen duration if you want to delay your retirement and keep the money growing (in a different account type at the same insurance company, we can help you to sort that out if needed, it can all be done remotely with no physical paperwork).


There are some terms and conditions which apply to early withdrawals – these are detailed here:


We strongly suggest that a) you stick to the plan, that’s how you maximise the value of every dollar you save and optimise your finances, and b) you talk to us before making any changes, just to make sure that you are 100% aware of all the terms and conditions which may apply.


Generally speaking, the most common instance where it is potentially a good idea to finish the pension plan early is when you are in the final few years of the plan, and the pension value is already at or above your target amount, way above the minimum guaranteed amount, and you can retire early with more money than you expected :-)


As always, if you have any questions or ideas and want to double check anything with our team before you act, just send us a message and we will outline all options available to you and any relevant things for you to consider.