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  • Investments and Tax Planning Advice

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    OF YOUR PENSIONAND LOOK FORWARD TO YOUR RETIREMENT

  • Pension Advice in Scotland

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    OF YOUR PENSIONAND LOOK FORWARD TO YOUR RETIREMENT

  • Independent Financial Advisers Glasgow

    TAKE CONTROL
    OF YOUR PENSIONAND LOOK FORWARD TO YOUR RETIREMENT

  • Pension Advice in Glasgow

    TAKE CONTROL
    OF YOUR PENSIONAND LOOK FORWARD TO YOUR RETIREMENT

  • Scottish Pension Advisers

    TAKE CONTROL
    OF YOUR PENSIONAND LOOK FORWARD TO YOUR RETIREMENT

Pension Lump Sum

Under new Pension reforms you are now able to withdraw a lump sum of up to 25% of your Private Pension Tax Free providing you are over 55 years of age.

As of April 2015 Private Pensions holders over the age of 55 will be allowed to access their whole pension pot. The first 25% of your pension savings can be withdrawn as a tax-free lump sum, which may be ideal for those who have a mortgage or debt which they wish to clear. The balance can also be withdrawn too, however, this would of reduce your retirement income later in life and be subject to tax.

trapezeIf you choose a Lump Sum or Income Draw-down product you are also  able to pass down your remaining pension pot to future generations on the event of your death.

We’ve highlighted a few of the areas you should consider, but should you wish further advice on withdrawing a lump sum out of your pension call  Scottish Pensions on 0141 465 1909 for a free consultation with an Independent Financial Adviser.

Lines are open – Monday to Friday: 8.30am – 6pm.

Branches in Glasgow, Edinburgh, Dundee, Aberdeen, Inverness, Perth, Oban and Stirling.



 

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