What Is Pension Release
30-Sep-09 by Tim Moore
It is impossible to totally cash in your pension. However, Pension Release allows you to have access to a portion of your pension fund before you need the income.
There are certain requirements that have to fulfilled in order to qualify for Pension Release, such as being over 50 (changing to over 55 from April 2010), and it is not suitable for everyone. Therefore, advice is recommended from a qualified Independent Financial Adviser, preferably who specializes in Pension Unlocking.
The amount that can be released from your pension is dependent on numerous factors, such as the transfer value of your fund.
The residual fund remains invested until such a time that you need your income to commence.
