PENSION SURRENDER

What are your pension surrender options?

Pension Surrender at 55+

If you are not currently paying into or receiving your personal or old company pensions,
you can release 100% as a cash lump sum – up to 25% Tax Free*

Guide to Pension Surrender

Pension Surrender is often used when people want to receive a cash lump sum of money from their pension early. Obtaining cash from your pension via pension surrender is for the most part not advisable. Pension fund proceeds, regardless of whether they are occupational scheme or personal pension scheme funds, are intended to provide plan members with an income after they have retired, so to surrender pension benefits early would usually reduce the eventual retirement income.

Pension Surrender normally gives you the option to release part or all of your pension as a cash sum, 25% of which is tax free, and the rest of it would be taxed at your marginal rate of tax or, alternatively, provide you with an income for life, which is also taxed as earned income. Please note that the tax treatment would depend upon your personal circumstances and may be subject to change in the future.

Whether people cash in pensions via pension surrender from an occupational pension scheme or personal pension scheme, you can still usually take a cash sum as well as income. This tax free cash sum is known as the Pension Commencement Lump Sum or PCLS.

The income you receive will depend on several factors including where the money comes from – a personal pension or occupational scheme. To a certain extent you have much more choice about how the income can be paid from a personal pension compared with an occupational scheme. You have the option to surrender pension benefits or unlock pension cash sums without the need to take immediate income.

Even so, to release pension benefits through pension surrender, from any type of scheme, you need to consider your options thoroughly, which is where firms such as Grove can help.

Pension Surrender Resources

If you are considering surrendering your pension you will find some of these guides useful:

If you would like to find out more Get Started Today and receive our free Information Pack on the options available to you when you surrender your pension.

WARNING

This service only applies to pensions in the UK.

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.

Pension Surrender Advice

Grove Pension Solutions Ltd is regulated by the Financial Conduct Authority.

We specialise solely in Pension Transfer and Pension Release retirement services.

We were established in 2007 so have many years of experience successfully helping 1000’s of individuals. Some of them we advised to transfer their pensions and some of them we advised to leave their pensions where they are and not transfer them.

So why not Get Started Today and receive your free Information Pack.

NO OBLIGATION

CURRENTLY IT'S FREE TO KNOW YOUR OPTIONS

Get started today and receive expert advice from Grove Pension Solutions

Testimonials

When I made my initial enquiry via the Grove Website I received a response within 30 minutes. I realised straightaway that I was dealing with a highly professional operation. From beginning to end my case was handled with utmost speed and courtesy. I would highly recommend your services to anyone thinking of releasing their pension.

Mr CB, France

Grove Pension Release provided a very proficient service regarding my pensions review and pension release. My future pension needs have been fully reviewed and look forward to your support and working together in future years.

Mr RH, Witney

I wanted to release some of my pension money ( tax free ). Grove Financial were extremely helpful in every way from start to finish. No problems were encountered throughout. I Would strongly recommend them, many thanks.

Mr DS, Swindon

I found your service first class with friendly polite staff. All questions I had were answered. It was nice to be with a company that did not hard sell. Most refreshing.

Mrs JC, Warwickshire

I looked around the internet for some time, all I looked at was very confusing to me. I then found Grove Financial and found it very easy to read and take in. I sent an email with a question to see the response. I had a perfect response in plain english. I was very happy to carry on with the excellent personal service.

Mr JB, Bristol

Your staff were very helpful from the start and very professional in their approach to what is a complex field. I would recommend your services to anybody.

Mr AS, Oxford

from the point of initial contact right the way through to what was an extremely painless and satisfactory final outcome I was treated with courtesy, politeness and kept informed of every stage. My requests for any further clarification are treated with great patience and understanding.

Mrs HB, Newcastle Upon Tyne

I found your service first class with friendly polite staff. All questions I had were answered. It was nice to be with a company that did not hard sell. Most refreshing.

Mrs JC, Warwickshire

After wasting so much time on sites belonging to “big players “. I selected an unfamiliar one belonging to Grove Financial and never looked back – excellent service and commitment.

Mr TJ, Surrey

GROVE SUPPORTED CHARITIES

Grove actively support the following charities and institutions

Livability
Libra
Libra
Bromley Mencap
Aquaid