PENSION RELEASE - CASH IN YOUR PENSION EARLY

Pension Release - How?

Are you aged 50 plus?

If you are aged 50 plus and considering pension release or cashing in your pension early, the minimum age increases from 50 to 55 in 2010, so now is the time to contact us

What is Pension Release or cash in your pension early?

You do not have to take your pension annuities to do pension release

Pension Release or 'unlocking' is the term used for taking the benefits from your pension early before you retire and getting up to the maximum tax free cash and/or income.

How much can I release?

The current rules say that you can release a cash lump sum of up to 25% of the value of your pension fund. This is tax free and is know as a ‘Pension Commencement Lump Sum’ (PCLS). In addition, the remaining fund can be used to provide you with an income that might be taxable - depending on your circumstances.

Protected Rights

Protected Rights Pensions are from contracting out of the state pension scheme. You weren't allowed to get your money out of these types of pensions before age 60, however; the rules changed in April 2006 allowing you access from the age of 50. It's even possible now to release a cash lump sum, tax free, which was not allowed before.

What do I do next?

If you wish to explore pension release or cash in your pension early further, call us on 0800 043 0725 or fill out our quote form opposite

Pension Release is only suitable for a very limited number of people and should be only taken as a last resort. Taking money from your pension now will reduce the amount of income available to you come retirement. This service applies to UK pensions only.

There are significant differences in the performance of the worst and best annuity rates and the advice of an independent financial adviser should be sought to ensure you get the best annuity