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Tax Free Cash Expert Pensions Advice

Pension Release – Tax-Free Cash From Your Pension

Are you over 55? Did you know that you could release a tax-free cash sum from your pension now without taking your pension income. The cash can be used for any purpose including paying off personal debt.

What is Pension Release?

All non-state pension schemes have the option of taking up to 25% of the pension fund as a tax free lump sm upon retirement age. However, if you are aged 55 yeaers or over and have a sufficient amount in your pension fund it may be possible to unlock the pension fund early and access this tax free lump sum before you retire. This is called Pension Release.

Depending on the type of pension you have, a Pension Release scheme can provide you with the options outlined below:

Tax Free
Lump Sum

Up to 25% of the pension fund's value as a one off cash payment. You don't have to take the full 25%, you can take a smaller percentage, for example 10%, and take the remaining 15% as a tax free lump sum later on when you retire. You have total flexibility.

Regular Income

A regular taxable income either through buying an annuity (giving an insurance company a lump sump in return for regular payments to you) or leaving the funds invested and drawing directly from the pension fund.

Call us on 0845 6039376.

Pensions schemes are a complex area, so before making any decision why not ring us for a free initial consultation.

We provide an advisory service second to none and they can explain your options in plain English and recommend the best way forward.

We are qualified independent financial advisers and are committed to treating all their customers fairly and endeavour always to give the very best advice.

Alternatively, complete the enquiry form below and we will send you a free information pack.

The Next Step

Please note that taking benefits early will reduce your pension income in retirement and is only suitable for a limited number of people and circumstances. Therefore, Pension Release should only be seen as a last resort for raising tax free cash. This service only applies to pensions in the UK.

  • To explore your options we will ask you for your written authority to contact your existing pension provider(s) on your behalf, and gather up to date information about your arrangement.
  • Once we have this information, one of our qualified advisers will contact you and advise you as to your options and the best way forward.

Please remember - if you access your tax-free cash now then the benefits will be less than if you waited until your planned retirement age. Therefore, pension release will only suit a limited number of people.

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