If you're due to retire you have a number of Pension options?
Depending of the type of Pension you have you could access your funds from the age of 50. If you are retiring you have two main options for claiming your pension.
What are your options?
Depending on your pension you could take a tax-free lump sum of up to 25% or 1.5 times your salary PLUS an annuity pension income thereafter from remainder of Pension Fund.
Take tax-free lump sum with option to transfer balance to a Retirement Fund UNDER YOUR CONTROL - to provide an income and preserve capital to ultimately form part of your Estate for benefit of your dependants. With this option you have more control of what happens to your pension fund after you die.
Contact us if you have any questions about retiring & drawing down your Pension Funds.