Taking My Pension

If you need or want to release pension funds, and draw the benefits we can advise and guide you to the option that’s most suitable for you that meets your needs.  We can shop around for the best annuity rates and financial freedom for you from the entire market place because we are Independent Financial Advisers,  and being Pension Specialists means we are experienced in understanding your needs in retirement.

  • Cash from Pension Sometimes called Tax Free Cash or Pension Commencement Lump Sum – May be it is only cash from a pension you need right now. To qualify you must be over age 55, your pension must be from a UK source and you must not already be drawing a pension income from it.  For more information about taking cash from your pension see our page dedicated to taking Cash from Pension.
  • Income Pension. You may require additional income due to a change in circumstances.  It is not necessary to cease work to take income from a pension.  Therefore, if your income has reduced or you wish to work part time but need to top up your income it may be possible to draw an income from your pension whilst still working.  This does not have to be in the form of a Lifetime Annuity (though that is possible).  There are alternatives to purchasing a lifetime annuity such as a ‘fixed term annuity’ or a Flexible Access Drawdown contract.  These alternative products are flexible and may perhaps better accommodate your needs, especially if your need for extra income is temporary.  To find out if you qualify and learn more about taking money from your pension go to our dedicated page Income from Pension.
  • Shop around for the best annuity. If purchasing a lifetime annuity is right for you, it is important to shop around for the best rate on the market.  As Independent Financial Advisers that specialise in pensions we can access the entire market and make that comparison for you as well as advising on the most appropriate basis to take your annuity.  If you have a health issue it may be possible to increase the value of your annuity via the enhanced annuity market. We can advise you if you qualify for an Enhanced Annuity.  To find out more about annuity purchase go to our dedicated page What is an Annuity or skip to Enhanced Annuity.

If you’re not sure:

Whether it’s right for you to take your pension
How to go about drawing your pension
Which pension basis is best for you
If you have sourced the best priced annuity

Then it is important that you take advice from a pension specialist like ourselves. The Pension House will give you good clear guidance of what is right for you and your circumstances.

We will help you consider all the options available and steer you through the process. Make no mistake; retirement benefits are a big step and will affect your income for the rest of your life.  We advise you not to try and do it on your own but to seek professional help as it can be an overwhelming and difficult decision. You can seek free guidance from ‘Pension Wise’ but they won’t advise which option is best for you. We can and will provide financial advice, recommend the most suitable option and you will have the back up and support of the regulatory system having taken advice from a registered and authorised financial adviser.

Call our helpline to discuss your needs without obligation, telephone 01604 588293. Or contact us online and we will get back to you at a time convenient to you. Contact Us


Warning: Taking a pension early is likely to reduce your income at retirement. Pension release is not suitable for everyone and should not be seen as an easy option for raising cash, this is because a pension is designed to provide you with benefits when you retire.

Useful numbers to contact, If the lump sum is required to repay debts:

National Debtline -0808 808 4000 www.nationaldebtline.co.uk

Consumer Credit Counselling: 0800 138 1111 www.ccs.co.uk

Citizens Advice www.citizensadvice.org.uk