I'm 55.
That (being >55) allowed me to "cash in" my final salary pensions, move the money out, and take a tax-free lump sum also.
It's worth noting that companies who provide final salary pensions are VERY keen to get rid of you from their schemes and are offering fantastic transfer-out deals. I took one*
The remaining "pension pot" (the 75% that remains after the 25% cash lump sum) is invested privately in a draw-down fund which I don't need to touch until I finally retire (later this year I suspect a redundancy offer...which I would take).
The Mortgage is paid off, we're looking to buy an apartment with the lump sum (for rental income and the security of bricks and mortar if we return to the UK after our travels), we have a Motorhome all paid for, then we intend to sell our house and go travelling around Europe and Scandinavia (requires about £15K a year) until we find a place with a couple of cottages/Gites we can rent out.
I expect my disposable income will drop drastically but I'm willing to trade a very decent income, with just weekends to spend it (on stuff that generally ends up in the loft), for 7 days a week to do as I please (when doing as I please will hopefully be mainly reading, photography and cycling to local French/Spanish/Italian Cafes). We really don't need that much to live on if it's sunny.
I've worked all my life for big companies who (thank ****) looked after my pension contributions for me, when I was far too short-sighted to be trusted to do it myself. Through no planning of my own those pension pots have become quite valuable. I got lucky, nothing else.
*I realise people will be horrified that I chose not to take a final-salary pension but things have changed.
The tax rule changes make it financially sound to take your money out, you don't lose anything to tax unless you "realise" over £1,000,000.
The money you take out is available as inheritance to your children, and not lost to the annuity company on your death (This was possibly the biggest argument for taking the money)
The money is available at 55 years of age. I didn't want to wait until 63 for my full pension, life's too short, I want to travel ASAP.
Potentially I can earn as much as my final salary projections NOW, from the interest on the draw-down pension.
Millions of people manage on far less than I will have in the pot. Free time became more important than a good salary and weekends.
So...quite possibly I may be a pensioner by my 56th birthday in May. I hope so.
Note. I will have to stop buying bikes and cameras.........but I can live with that. I think perhaps I only do it to offset the boredom of a spreadsheet based job.