It has been a tradition of pension schemes for many years that the earliest age you can get at your pension benefits is age 50. However, about 3 years ago the rules changed to increase that age to 55 but the change was not immediate. In fact, the rule change wasn’t to come into effect until the 6th April 2010. I am finding it hard to believe that this is only 7 months away now!!!

We are experiencing an increased amount of enquiries from clients and prospective clients who are able to access their pension funds now but won’t be able to do so after April 2010. They are looking at this for many reasons such as early retirement, loss of employment income, home refurbishments and starting up businesses. Are you looking to release the tax free cash from you pension fund? Are you affected by the age increase?

We can advise you on all the different ways you can receive benefits such as an annuity, open market option, phased retirement, income drawdown, 3rd way annuity, with profit annuity etc. Contact us now for more information and to book your free initial consultation.

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There are many different styles of pensions schemes available in the UK and they all have their part to play in Corporate Financial Planning as each is governed by slightly different rules on staff eligibility, funding limits, investment options....

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