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Can I Take My Pension Now?

If you are over age 55, you have reached pensionable age. This generally means that you can take your pension benefits, although some schemes may not allow this or there may be penalties for taking benefits early.

If you are looking to cash in your pension, or take benefits in any other way we suggest that you seek pension advice. There are a wide range of options available to you including:

    • Cashing your pension in
    • Leaving your pension invested and taking benefits in a flexible way
    • Purchasing an annuity
    • Buying a fixed term annuity
    • Taking a scheme pension

If you need help in considering your options, please call us up or email us for an initial discussion. For full details on how our service works, click here.

Disclaimer: Final Salary Pensions are suitable for the vast majority of members. Transferring from a final salary pension scheme is an irreversible decision and it could have a detrimental effect on your retirement planning. The detail on this website is for information purposes only and is not to be taken as a personal recommendation. Before taking any action, you should take financial advice from a suitably qualified independent financial adviser. Any potential advantages of transferring from a defined benefit scheme to a defined contribution scheme are often outweighed by the costs, risks and loss of benefits involved.

 

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Pensionhelp Ltd may refer enquiries to another regulated Independent Financial Adviser to contact you in the event that we can’t initially help you. By filling in this form you agree to this transfer of personal data