What is Pension Release?
Accessing the money in your pension is sometimes known as Pension Release or Pension Unlocking.
It applies to either a Personal Pension or Company Pension from a previous employer, but not the State Pension. You may want to do this even if you haven’t retired yet but need some money now, or you may be thinking about early retirement and need to know your options.
Complete the form and we’ll send you an enquiry form, once you have sent this back we can let you know whether you qualify and how much you can release.
Taking benefits early will almost certainly reduce your pension income in retirement. It is therefore only suitable for a limited number of people and option for raising cash.
Pension Release – Tax-free cash when you really need it
from Grove Pension Solutions Ltd
Grove Pension Solutions Ltd is a specialist pension consultancy directly authorised and regulated by The Financial Services Authority.
We have dealt successfully with thousands of enquiries over the years and guarantee a personal service.
What our clients say
“At first, I thought this process would be a bit daunting. However; from the start I was treated with respect by the staff. Everything was explained in Plain English, any questions I had were answered to my complete satisfaction. I would recommend this service to others.” – Mr T.W. , Abbots Langley
Am I eligible?
You are eligible if you are aged 55 or over with a UK pension. It is possible even if your pension was originally set up to an older age, say 60 or 65 or you’ve been told by your pension provider you can’t take it early.
It can relate to a Personal Pension or Company Pension from a previous employer – even Local Government, Teachers’ or NHS schemes.
How Much Can I Release?
You can usually release up to 25% of your pension fund Tax Free; however, there are ways in which you can release a little more, although the extra sum could be taxed.
You can decide to take income immediately as well as a lump sum, or you could delay this until you need it. If you decide to delay taking income this part of your pension fund remains invested. This has the advantage of potentially giving you a bigger pension in the future, although if investments perform badly you could end up with less.
Complete the form and we’ll send you an enquiry form, once you have sent this back we can let you know whether you qualify and how much you can release.
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