 TITLE: What Is a Pension Fund? CONTENT: When Can I Withdraw From My Pension Fund?\n-----------------------------------------\nIf you have a pension, you typically can't obtain full benefits until you reach a certain age, like 62 or 65. But if you retire early—at age 55 or 60, for example—you may be able to receive a lower monthly pension payment. And if you're terminated by your employer, you still may qualify for a reduced pension payment, depending on your age.\nAnd if you leave your job before you're able to draw from it, you unfortunately may not be able to take money out of the pension plan or take your pension with you when you leave your job. Leaving with some or all of your money will depend on whether your contributions have vested, meaning they're entirely yours, and what the pension plan's rules are.\nSome pension plans may let you borrow against your pension, although this is something financial experts say is unwise. So-called pension advances provide a lump-sum payment you'll pay back by signing over your pension checks to a private lender over a period usually lasting five to 10 years. The fees attached to pension advances can effectively raise the annual percentage rate (APR) for this borrowing method to more than 100%, making it an unattractive way to raise cash. END