Pension Lump Sum

By: Best Pension Annuity  27/11/2012
Keywords: retirement planning, Pension Fund, income drawdown

If you are 55 or older you could release a tax free lump sum from your pension fund before retirement. The remainder of your fund remains invested to provide you with an income when you eventually do retire.

You can take up to 25% of the current value of your fund. This is paid direct to you and you do not need to pay a single penny tax on it. Obviously you should use such a financial windfall to make a significant change to your financial circumstances or lifestyle. We would not recommend you spend it all on a holiday, but a pension lump sum could just pave the way for less financial worries in later life.

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Keywords: income drawdown, Pension Fund, pension lump sum, retirement planning, Tax Free Pension Lump Sum,

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