What is Pension Release?

Getting at the money from your pension is sometimes known as Pension Release; whether it is a Personal Pension or an old Company 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 retirement and need to know your options.

If you’re over 55 and have either a Personal Pension or old Funded Company Pension you’re not currently receiving, you can release your money now, even if your pension was originally set up to an older age, say 60 or 65.

Company pensions are ones that your employer paid into, many of which are known as Defined Benefit pensions. Both private companies and government employees have Defined Benefit schemes, however, not all types of government pensions can be transferred into an arrangement that will allow early pension release. Only Funded pensions can be transferred, such as the Local Government Pension Scheme and Universities Superannuation Scheme. Unfunded schemes, such as NHS, Civil Service, Teachers, and Armed Forces cannot be transferred.

So if releasing money from your pension, whether it’s a Company Pension or Personal Pension, is something that interests you then just complete the “Get Started” form now.

There is no obligation on your part and no cost just to find out your options.