What is pension release?
Pensions Release is the term used for taking the benefits from your pension before you retire, or before the full term of the pension is up. You can take up to 25% of the value of your pension, completely Tax Free, as a cash lump sum to spend however you like. However, a pension is designed to provide you with benefits when you need to replace your income so taking them early is only suitable for a limited number of people and circumstances.
You can get TAX FREE CASH from your Pension
If you have a private or old company pension and you are aged 55 or over* with over £15,000 in your fund (s). Pension Release could be the answer. This service does not apply to State Pensions.
* Under the current law, unless you are suffering from serious ill health, you have to be 55 or over to release funds from your pension
With every pension policy you are allowed to take up to 25% of the fund as Tax FREE cash at the specified retirement date. With Pension Release you may be able to take that money at an earlier stage. Indeed it may be possible to get a little more than this, although depending on your personal circumstances it will be taxed at your highest rate. Because this is money you have already invested you will not have to make any repayments or monthly premiums.
It isn't right for everyone
It is important to remember that the whole purpose of making contributions to pension schemes is to provide an income during retirement. It is therefore important to be aware that releasing your pension benefits early could reduce your income and your standard of living at retirement. This is why pension release is only suitable for a limited number of people and circumstances and shouldn’t be seen as an easy way to raise cash.
FREE No obligation investigation
We will carry out a FREE, NO OBLIGATION investigation to help you to decide if Pension Release is right for you. We are a Financial Conduct Authority (FCA) authorised and regulated company.
Our friendly team of expert advisers will provide you with all the information you need to help you make an informed decision, and ensure you fully understand the advantages and disadvantages of early pension release.
You are under NO OBLIGATION at any stage and we only get paid if you proceed to release funds from your pension with us.