What is Pension Release?
In the UK if you are aged 50 or over and not in receipt of any benefits from your pension then you can unlock your pension and take your tax-free cash. Pension Release or ‘unlocking’ is the term used for taking the benefits from your pension before you retire and getting up to the maximum tax free cash and/or income.
How much can I release from my pension?
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.
Do I need to consult an Independent Financial Adviser?
It is highly recommended that you seek expert advice before you consider releasing your pension. We will conduct a FREE investigation to establish all benefits you are entitled to, in addition to providing you with NO OBLIGATION advice to assess whether pension release is right for you.
We specialise in pension release and use a selected panel of product providers
April 2010; Deadline approaches, could this affect you?
* In April 2010, there is a change to pension legislation which means that the minimum retirement age increases from 50 to 55.
Call us today to take advantage of your pension fund 01603 861621 or visit our website www.norfolkfs.co.uk
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.