Early Pension Release

Early pension release can give you access to your pension fund before you take your retirement.

Early pension release is now only possible from age 55 in the UK and you must usually hold at least £15,000 in your pension fund to qualify. Early pension release will allow you to take up to 25% as a lump sum with the rest remaining invested or being used to purchase an income.

Early pension release can give you fast access to funds but will also mean that you are left with a smaller income on retirement, so it's always a good idea to research all alternative options before you proceed.

Occasionally you may come across a provider that offer pension cash release before the age of 55. This type of release plan is also known as a pension loan and can include some significant risks, the Financial Service Authority recommends such schemes be treated with caution.

For impartial expert advice on pension release, or to discuss your pension options, speak to a member of an independent pension advice team and receive a free initial consultation.

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