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

You can take 100% of your pension fund as a cash payment; however, most people choose to just release 25% Tax Free and leave the rest to take at a later date.

You can usually release up to 25% of your pension fund as a Tax Free lump sum; the balance can either be taken as a lump sum too or used to provide income; either way it will be subject to Income Tax at your marginal rate, depending on your personal circumstances, which may also be subject to change in the future.

For a significant number of people wanting to release their pension early, not taking the whole lot in one go is likely to be the best advice; in fact, if anything, just taking the Tax Free cash sum on its own and leaving the balance invested to a later date is more advisable, especially if you’re working now. Any additional payments will simply be added to your earnings and taxed accordingly whereas leaving that money to take when you retire could mean you pay less tax.

For those on certain State Benefits it may be advisable to limit yourself to taking just £6,000 Tax Free cash, thus keeping you below the threshold on losing your State Benefits.

Others might be advised to release some Tax Free cash and some taxed cash if that’s more suitable.

The point is everyone’s circumstances are different and there are more choices now and more possibilities of getting it wrong if you don’t get professional advice from a specialist company..

One thing you can be sure of is that Grove will be able to advise you which option best suits your needs and circumstances, whilst pointing out both the disadvantages and risks along with the advantages and benefits.

If you want to find out more about your pension(s) then complete the Get Started form now.

There is no obligation on your part and no cost just to find out your options.

What advantage is there to unlocking less than the maximum cash sum?

You can take less than the maximum cash sum allowed, even if this option, if not taking income, isn’t offered to you by your existing pension provider.

This is very useful for those people who don’t need to release the whole amount all in one go. For example: you may have a need for a specific cash sum, which is less than the maximum you could take.

By only taking what you need it has the advantage of leaving more money invested in your pension. This means more should be available for you at a later date, although the value of your fund can go down as well as up.

You do not lose your entitlement to the balance of what you didn’t take. This balance can be taken when you retire or even sooner if you have a change in circumstances and need it.

Again, there are both advantages and disadvantages with this option so it’s important to make sure you are aware and understand both.

What if I only want income?

It’s possible to take just income without a cash sum and there are a number of ways you can do this.

One option is to buy an annuity, which is simply handing over your pension fund to an insurance company and them promising to pay you back a regular income for the rest of your life.

The annuity market is very competitive and the rates differ between companies. It’s possible to substantially increase your pension income by purchasing your annuity from the company with the best rates, which means you get the biggest income. This is called “Exercising the Open Market Option” and it usually costs nothing, with the exception of an adviser’s fee or commission, to take advantage of this option. There are many different ways an annuity can be paid to you, so it’s important to make sure you get the right one and at the best possible rate.

You can also take advantage of enhanced rates if you are a smoker or in ill health, which basically means you get a bigger income if you smoke or your health is such that it could affect how long you live.

As an alternative to buying an annuity it may suit you better to leave your pension fund invested and simply draw an income directly from it. This way you don’t have to hand over all your money to an insurance company in exchange for an annuity. However; there are risks with this that you’ll need to be made aware of and understand.

Whichever option you choose it’s always a matter of making sure you get the one that best suits you both now and in the future and that you are fully aware of the disadvantages as well as the advantages. Any income is subject to Income Tax at your marginal rate, which may change in the future.

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

There is no obligation on your part and no cost just to find out your options..


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.

Need Pension Release Advice?

It’s free to find out your options 

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

We are financial advisers specialising in pension release. We help people understand their pension release options and how to cash in their pension early. We have been doing this for many years now, long before the Pension Freedom changes came into effect.

We have provided professional advice to thousands of people over the years.

Our service allows you to evaluate your Pension Freedom options without paying a penny. It’s only if you decide to go ahead with releasing all or part of your pension pot that you pay a fee. You are under no obligation to go ahead if you don’t want to.

Get Started Today and receive our free Information Pack on Cashing in your pension at 55.



Get started today and receive expert advice from Grove Pension Solutions

Initial consultation free


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

From the moment I went on to the website with Grove, right to the end of my pension dealings. They’ve acted in a very professional way with myself, I would recomend them to any person who – like me – needs much needed help on pension release. Well done to everyone at Grove, you deserve a pat on the back, thank you.

Mr KW, West Bromwich

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

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 staff very helpful and professional at all times. The advisor concerned did everything in his power to speed up the process as I had wanted to use the funds to attend my son’s wedding (abroad). The deadline was met and I was able to achieve my goal. The advisor went out of his way to ensure I was fully briefed and had considered all options before making my decision, thank you again.

Ms NS , Swindon

I found the service very good, everything was explained in simple English, which made it easy to understand. The advisor was polite and very helpful.

Mrs SB, Selby

Definitely I would recommend Grove Pension Release to anyone as they give personal and friendly help to people who need help, where other companies don’t.

Mr MG, Stockport

Grove made all aspects of the pension release process very clear and precise, and kept me up to date on what stage my pension unlocking was at. Very professional at all times.

Mrs MR, Glasgow

I found Grove Financial Services to be an efficient and helpful company who I believe will do the best for their clients.

Mr CN, Slough


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