Sign up for our monthly Lifestyle newsletter for entertainment news, healthy living tips and more.
by AARP Tax-Aide, AARP, June 2, 2008
Q: Can you withdraw funds from a pension before age 59 1/2 and avoid the early withdrawal penalty?
A: Yes, there are exceptions to the early withdrawal penalty for qualified retirement pension plans. The 10% additional tax does not apply to distributions that are:
You can find all the exceptions starting on page 28 in IRS Pub 575.
These questions are actual inquiries submitted by taxpayers to our AARP Tax-Aide Program. The AARP Tax-Aide Program is a volunteer-run, free tax-preparation and assistance program offered to low- and middle-income taxpayers with special attention to those age 60 and older. Our volunteers are trained and IRS-certified to understand individual federal-tax issues. Our volunteers provide tax assistance as a public service and cannot guarantee the accuracy of the information provided.
Please leave your comment below.
You must be logged in to leave a comment.
Up to 25% off device and online privacy protection plans
Help from experts & resources to get started
No-fee personal loans
AARP members receive exclusive member benefits & affect social change.
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age.
You can also manage your communication preferences by updating your account at anytime. You will be asked to register or log in.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at