Cash in your pension

Do you want to "unlock" or "cash in" you pension? Well we can help you take your pension benefits. We will discuss the implications and ensure you make the right decision.

If you can answer "yes" to the following questions, then we can help. We can establish what benefits are available and arrange the best contract to suit you.

• Are you over 50?

• Do you want your lump sum?

• Or do you want to enjoy the income now?

We have helped many customers take the benefits from their pension, including those who only want to take the lump sum. There a number or reasons why people want to take the lump sum from their pension, even if they are not stopping work, such as:

• Debt consolidation

• Property purchase

• Support a business

• Home improvements

Can I take my pension?

Provided that you're over 50 you can access the benefits from your pension in one way or another. How you access your benefits depends on the type of pension scheme you have. Pensions have all sorts of rules and regulations, and individual arrangements may have higher age restrictions than age 50, especially pensions through an employer. Regardless of the type of pension you have we can help you take the lump and an income if you require it, just as long as you're over 50.

What's the downside to unlocking my pension?

That very much depends on when you do it, what type of scheme you have and why you do it. Taking the benefits when you're 50 will obviously mean that you will get less at age 65. But you may have a pressing need for the lump sum, or other reasons to want to take the benefits now.

There can be some significant disadvantages in taking your benefits early especially schemes which offer some guaranteed benefits. We're here to help, and will ensure you know exactly what you're giving up if you decide to take your pension early.

One of the major areas of concern for the Financial Services Authority (FSA), the regulators of our industry, is "unlocking" occupational pension schemes. There can be quite significant disadvantages to taking the benefits early, and if you want to know more about the disadvantages then the FSA website provides extensive information on the subject (please note that this is an external website and we are not responsible for its content).

If you want to discuss unlocking your pension with an experienced adviser who can discuss your options call us free on 0800 072 5987 or contact us online. 

transferyourpension.co.uk is a trading style of the The Policy Servicing Company Ltd which is an appointed representative of Independent Investment Solutions Ltd, which is authorised and regulated by the Financial Services Authority.
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