Pension release explained

Everything you need to know about taking money early from your pension.

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What is pension release?

Pension release is the withdrawal of money from an eligible pension fund. In almost all cases you must be 55 or over, and the first 25% released is tax free.

Want to find out if you’re eligible and how much money you could release? At Pension Access we cut through the jargon, making the process easy and hassle free. Discover more here .

1.9 million

Over

The number of pensions accessed for the first time since 2018¹

Releasing pension money early isn’t right for everyone as it will leave you worse off in retirement. That’s why it makes sense to speak with a financial adviser, such as Pension Access.

Why so many are releasing pension money early²

Do you qualify for pension release?

If you can answer yes to the following 3 questions, you could qualify for pension release through Pension Access.

Are you 55 or over?

Do you have a private pension or final salary scheme?

Do you believe your pension pot is worth £15,000 or more?

Couple reading their pension release paperwork

How it works in 3 easy steps

With our no obligation pension check discover if pension lump sums are right for you.

Your permission

Complete and return a simple form giving us your permission to check your pension.

We analyse

Our team gathers and analyses all the information we need about you and your pension.

Your decision

We’ll send you a report, clearly stating what we think you should do. The choice is then yours.

If you decide to make a change to your pension, including releasing money from it, we will take care of everything for you. We’ll also let you know in writing what the fee would be. Or, you can choose to walk away with nothing to pay.

Friends toasting a drink at dinner | Pension release

¹https://www.fca.org.uk/data/retirement-income-market-data-2020-21

² Pension Access statistics: primary reasons for clients taking tax-free cash: up to 4th Nov 2020

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Pension Access is a trading name of Harbour Rock Capital Limited which is registered in England & Wales as a Limited Company, No. 10290349. Authorised and regulated by the Financial Conduct Authority, No. 754580. Registered Offices: Affinity House, Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FD. Telephone: 0800 009 3388. Email: pensionaccess@harbourrockcapital.co.uk

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Pension release explained

What is pension release?

Why so many are releasing pension money early²

Do you qualify for pension release?