Pension Release

Pension Release Advice from Sidstone Pensions Advisers

Over 55? Did you know you could release TAX FREE cash from your pension to spend how you wish.

Whether your pension is a personal plan or from an ex-employer, you could unlock up to 25% of its value Tax Free to spend how you choose.

Is Pension Release right for me?

If you opt to release some of your pension now, you will almost certainly reduce your pension income in retirement, so you should think carefully and be satisfied that you have a genuine need for cash which justifies the loss of income you will suffer later in life. Pension release is likely to only be suitable for a limited range of customers and circumstances which is why we always recommend speaking to a specialist first. Each individual case will of course be different but if your need for cash is important then it might be worth considering.

Our specialist pension adviser will inform you of the facts and figures involved and other issues you should consider before a final decision is made.

How Long Does it Take?

This depends to some extent on your pension company, it’s important not to rely on Pension Release as a ‘quick fix’ for your financial situation. Once you have spoken to one of our advisors and filled in the necessary paperwork we can contact your pension company straight away and will do all the chasing on your behalf.

Can I still contribute to a pension?

Yes. Any new contributions you make following a pension release will be treated in the same way as before and will still attract tax relief. New contributions will go back into your fund and will be added to the existing pot, which you will benefit from when you retire.

Do I have to be retired?

No. You can continue to work but you cannot release funds from your current employers pension 

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