Pension Unlocking


If you are over 50 years old, you can ‘unlock’ your pension.

When you unlock your pension you take the benefits early from a pension that you are not currently receiving. You can take out up to 25% of the value of your pension pot as a tax free lump sum and use the balance to either;

  • take a monthly or annual income
  • leave the rest of the fund invested to grow until you need an income later in life

Important
Important: The rules are changing in April 2010 when the minimum age becomes 55. If you’re in your early 50’s you’ll need to act fast.


Taking any of your pension benefits early is likely to reduce your income at retirement and may also affect any State Benefits you receive now. Therefore, pension release is only suitable for a very limited number of people and circumstances and should not be seen as an easy option for raising cash. This is because a pension is designed to provide you with benefits when you retire.

We will provide you with all the information you need, including all the suitable alternatives, in order that you can make the right decision. These alternatives could include debt consolidation, remortgaging or other borrowing, use of other existing assets or applying for state assistance. Only when these alternatives have been investigated can accessing pension benefits be considered suitable.

Simply complete the Enquiry Form or call us on: 01923 725800.

Important
You are under no obligation to proceed and there are no costs involved if you decide not to proceed with Pension Unlocking.


Telegraph Article – ‘ Tens of thousands of pension savers have put billions of pounds into funds that consistently underperform’.

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Step by Step Guide


More: FAQs and Enquiry Form.