Helping you make the right choices
Pension Transfer Knowledge Base
To help you make the right choices, here are some useful guides and articles on defined benefit pension transfers, cashing in your pension early and jargon buster.
Jargon buster
So many terms, what do they all mean?
Can I cash in my pension early?
Can I cash in my pension to pay off my mortgage?
Should you use a cash lump sum from your pension to pay off your mortgage.
Can i cash in my pension early due to ill health?
If you are in poor health and can no longer work you can cash in your pension before 55.
Can I cash in a defined benefit pension early?
If you are 55 or over you can cash in 100% of your pension early as a cash lump sum; up to 25% Tax Free.
Can I sell my pension?
If you are looking at option such as selling your pension then you probably want to raise a cash lump sum from your pension fund before retirement.
Pension Transfer Consultation
Get Started Today
If you would like to find out if transferring your pension or taking a cash lump sum is suitable for you, we can provide a free initial Pension Transfer Consultation known as abridged advice.
Simply complete your details below, and we will send you our Pension Transfer Consultation Pack and Enquiry Form.
As part of the consultation we will look at:
- What existing pension plans you have in place.
- What your plans are for retirement.
- Your needs for flexibility and control.
- The likely cost of more in-depth advice.
"*" indicates required fields
Defined Benefit Pension Transfer Warning
Transferring away from a defined benefit pension scheme means you will lose valuable guarantees.
Taking benefits early will almost certainly reduce your pension income in retirement and is only suitable for a limited number of people and circumstances. This should not be seen as an easy option for raising cash.
If you release all your money from your pension early you will not have anything left to provide you with income in retirement.
When releasing cash from your pension, usually up to 25% is tax free, the balance is taxed at your marginal rate at the time and could change in the future.
Watch the FCA video explaining the expectations of financial advisers when advising you on defined benefit pension transfers.
Grove Pension Solutions Ltd is authorised and regulated by the Financial Conduct Authority (Reference number 465051).