You do not have to give up work if you do not want to. The pension you receive will be taxed as earned income.
If you cannot work at all through serious ill health you may be able to draw out the money before the age of 50; and likewise if you are in certain occupations which the Inland Revenue recognise as needing an earlier retirement age.
For more information about SIPPs, please click one of the links to the left or alternatively, click here to Contact Us with any queries.