Unlocking UK Pensions
The pension reform 2015 introduced new legislation that allows individuals aged 55+ who have a UK private pension to unlock their UK pensions giving access to tax free cash lump sums.
At age 55, anyone who has a private UK pension can take a pension commencement lump sum of 25% of the transfer value of the pension, tax free. This was already the case before the pension reform of 2015. However the pension reform 2015 enables UK pension holders to take additional cash lump sums from their pension, up to 100%. Anything above the 25% pension commencement lump sum will have to be taxed at the applicable tax rate.
It is not always advisable to unlock your UK pension. It is therefore extremely important to seek professional advice beforehand
Unlock Your UK Pension
The pension reform 2015 introduced new legislation that allows individuals aged 55+ who have a UK private pension to unlock their UK pensions giving access to tax free cash lump sums.
At age 55, anyone who has a private UK pension can take a pension commencement lump sum of 25% of the transfer value of the pension, tax free. This was already the case before the pension reform of 2015. However the pension reform 2015 enables UK pension holders to take additional cash lump sums from their pension, up to 100%. Anything above the 25% pension commencement lump sum will have to be taxed at the applicable tax rate.
It is not always advisable to unlock your UK pension. It is therefore extremely important to seek professional advice beforehand
Unlock Your UK Pension
www.qropspensionservice.com/uk-pension-release.html
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