Independent Pensions Advice
Independent Pensions Advice from Allsopp Financial Management
People often amass numerous pension ‘policies’ over their working life. Often, they wish to investigate whether their pension funds can be transferred into a single contemporary pension plan. This allows a consistent investment approach to be applied to a person’s entire pension portfolio. If you have pension funds worth over £100,000 in total you may wish to take advantage of our free and impartial Pension Review Service.
Those approaching retirement (or semi retirement) may wish to draw a tax free lump sum and/or income from their pension fund(s). Under tax rules the earliest age at which you can draw a tax free lump sum from your pension fund is usually 55. Age 55 is also likely to be the earliest age at which you can either purchase an annuity or draw a pension from your fund using income drawdown.
Deciding whether or not to start taking money from your pension fund is a complex and crucial financial decision. For the vast majority of people, taking independent financialadvice will be essential.