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Pension Release is a means whereby you can unlock the benefits from your pension before you retire. This usually means taking the maximum tax free cash (25% of the fund) and/or maximum income. Of course, taking benefits sooner rather than later will reduce the amount you will receive in retirement. It is only suitable for a limited number of people and circumstances.

The Financial Services Authority produce a guide which can be accessed and downloaded here. The booklet covers pensions in general but Pension Release is covered on page 11.

The new Fixed Term Annuities may be worth looking at if you are relatively young as you don't have to lock into a lifetime annuity and indeed don't have to take an income at all until you are older.

Please note that the minimum fund we can consider for this service is £25,000. Releasing cash from your pension now will undoubtedly reduce the level of income available to you in retirement.