Get Early Retirement Advice…

Although you can retire at any age, you can only claim your State Pension when you reach State Pension age. State Pension age is 65 if you’re a man and 60 if you’re a woman born on or before 5 April 1950. The State Pension age for women born on or after 6 April 1950 will increase from 60 to 65 between 2010 and 2020. It will increase for both men and women from age 65 to 68 between 2024 and 2046.

Currently the earliest you can receive a company or personal pension is 50 – but this depends on your pension scheme rules. From April 2010 this rises to 55. Pension Release will allow you to take the tax free cash from your pension.

If you are suffering from serious ill-health that results in a life expectancy of less than a year, you can retire at any age and take up to 100 per cent of your pension fund as a tax-free lump sum. However, if you are married or have a civil partner, 50 per cent of the pension fund must be retained by the scheme to provide for a survivor’s pension.

If you are considering early retirement we recommend that you seek impartial advice from an Independent Financial Adviser. If you are considering pension release then you will need consider the following:

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.

If you wish to explore pension release or cash in your pension early further, call us on 0800 043 0725