Can I take an income & tax-free cash?
If you wished to receive an income then this will be possible. Under current legislation this is not compulsory.
If I don' take an income what happens to the rest of my fund?
Once your tax-free cash has been withdrawn the remainder continues to be invested in your chosen investment funds. Currently this is allowable until the age of 75. You will then need to consider retirement options.
What are the tax consequences?
The cash lump sum is completely tax free. If you elect to take an income then this will be taxed as earned income.
Do I have to retire?
No.
How Long does it take?
Typically takes between 1 and 4 weeks - Depending upon your current pension provider
How Much Cash Can I Release?
Typically this will be 25% of your fund value
How does the IFA get paid?
All our approved IFAs offer a no obligation, free and complimentary pension review. If you wish to proceed with releasing cash from your pension the IFA will discuss the choice of payment options available. All IFAs offer the option to pay by fee or receive commission from a pension provider. The choice is yours.
Why use our service
Unlocking your pension is a specialist area of advice that should only be provided by an IFA with high level knowledge and the appropriate qualifications. Our recommended IFAs are qualified and able to demonstrate competence at the highest level. Our recommended IFAs have now provided hundreds of our readers with best advice since 2005. See 'why use best investor' section for further information.