- 7th October 2019
- Posted by: thisworksadmin
- Category: Lastest News
“Pension – Tax free cash” – “Pension release” or “Pension Unlocking”
Pension Release Explained – Early pension release allows you to access your saving before you retire, or before the full term of the pension is up.
You can take up to 25% of your pension`s value, completely tax-free, as a cash lump sum to spend however you like. It doesn’t matter if you have a private or company pension, as long as you’re not already drawing an income from it.
You just need to be over 55, due to the regulations in place.
Please note that taking pension benefits early could reduce your income and your standard living at retirement.
“What types of pension can be released?”
- Private Pensions
- Company Pensions
- Final Salary pensions
- Old Company and Personal Pensions.
The State Pension is not suitable for pension release.
Your pension is your second biggest asset after your property.
Why not request a free, no-obligation Lowndes Alexander Daniel Ltd. Pension Review