Below you’ll find answers to questions we get asked most about the Pension Transfer process. If your question is still unanswered please get in touch.
Our partner is totally impartial, and will search the whole of the market to ensure the best pension provider for your individual circumstances.
Yes, you can take your pension as a lump sum. Although, please be aware that there are tax implications. If you withdraw the whole of your pension as cash, the first 25% of the pension is tax free, but the remaining 75% is potentially taxable.
The first 25% of your pension fund can be taken as a tax-free lump sum. The remainder will be taxed as income, with the rate of tax determined by how much income you earn from all sources.
Please contact your current provider to see what facility they offer. Or contact us for a no obligation review.
No, at the present time you cannot fully cash in your pension annuity. The Government have announced you will potentially be able to sell your annuity for cash from April 2017.
If you’re an eligible jobholder, who doesn’t want to join your employer’s workplace pension scheme, you can opt out of the scheme after you have been automatically enrolled.
We recommend that you refer to the Pension Regulator.
Please contact State Pension Forecast for more information by calling 0345 3000 168.
The new State Pension will be a regular payment from the government that you can claim if you reach state pension age on or after 6 April 2016. You’ll be able to get the new State Pension if you’re eligible and:
– a man born on or after 6 April 1951
– a woman born on or after 6 April 1953
There are lots of pensions sat doing nothing. Do you have one or more of these pensions. Isn’t it time you did something about it?