Currently, if you are in any pension scheme that is not provided by the State, you are eligible to take a 25% tax-free lump sum upon reaching retirement; this is known as pension release. Specifically, if you are aged over 54 and under 65, QuoteRack can help you with relevant pension release advice.
In certain circumstances and depending upon your age, it may be possible to take the lump sum element from your pension before you actually retire.
There are risks associated with taking on any form of pension cash lump sum and before deciding whether this type of pension release is right for you, you would be wise to seek appropriate financial advice from a financial adviser who specialises in providing pension advice.
Filling in the QuoteRack form will send your contact details to specialist advisers who will be happy to discuss the various options available to you in respect of taking early pension release.