You may start to draw your pension at age 55, but you will draw a lower amount per year than you will if you wait until age 65. At age 65, you can receive your pension for the rest of your life with no penalty. You can also draw on your pension at age 65 even if you are still working! Carefully consider whether you want to start drawing from your pension early.
You should start drawing from your pension by age 65, if you have not already. If you do not begin drawing on your pension at age 65, you are leaving money on the table.
Most pensions have survivorship benefits, meaning that if you die before your spouse, your spouse will receive a portion of your pension for the remainder of their life.