Lump Sum Pension
Receive advice from time-served FCA registered advisers.
In pension terms a 'lump sum' is usually the first 25% of your pension fund and as long as you fit certain circumstances it can be a 'tax-free lump-sum". Those circumstances being that you have reached your 55th birthday and that your pension fund is valued at £30,000 or more.
For funds below that amount it is possible to take 100% of the pot.
Lump Sum Pension Plan Value
The only way to find out the value of your pension fund is to simply contact your current pension supplier / provider and ask.
Plus if you believe you have historic pension funds with other providers you can use the government's free Pension Tracing Service.
Why might I take a lump sum pension
Obviously the primary reason for a pension is to help provide a reasonable level of income upon retirement. It does then beg the question, why would I take a lump sum pension?
The answer is simple, because a clients personal circumstances have either forced them to do so to release cash, or because it is efficient to do so.
To find out if a lump sum pension is suitable for you, and to get introduced to a professional adviser simply will in the form and we will call you back.
Lump sum pension for under 55's
Professional FCA registered advisers.
Maybe you've considered the question, can I take a lump sum from my pension?
Depending on your personal circumstances it may be possible to take a lump sum from your pension, even if you are under the age of 55.
However. We must point out that it is against the law to sell (or release cash) from your pension fund unless your circumstance allow you to meet very specific criteria. And this can often be dependent on the original pension scheme you signed into, and if you have any serious illnesses. Contact us to find out if you qualify even if you're under 55.