Take Your Pension Pot

One of the surprising features of the Pension Freedoms introduced in April 2015 was the ability for a customer to take all of their pension pot in one go if they wish. Previously no matter how you used your pension, there were limits on how much you could take in any one year.

While taking all of your pension as a lump sum is not going to be suitable for most people, for some customers it could be the ideal solution to a financial problem.

PLEASE REMEMBER : What may seem a quick solution to an immediate problem could cause far more serious long term financial problems. You could end up with little or no income in your retirement years. Please take your time to consider your options and make sure you don't make a decision you will come to regret.

We offer a quick simple service for our customers. It all starts with a quote from a well known UK company and a pack explaining all of your options. If you have any questions then we will be pleased to answer them, you can call us on 020 33 55 4827 or email us at help@best-pension-annuity.co.uk.

Typically the first 25% of your pension pot will be paid to you tax free, but the remaining 75% we be liable to tax. Just how much tax you will pay will depend on the value of your pension fund and any other income you earn during the year. This means that you could be pushed into a higher tax rate than normal.