If you have a pension plan then you can take 25% of it as a tax free lump sum. Current Pension rules don't allow you to take this lump sum before the age of 55.
But what happens if you are aged 55 but don't really want to receive your pension income until you are say 65 ? If you take the lump sum directly from your existing pension most contracts will insist that you must also take a regular income, otherwise known as an annuity.
This may not be a good idea as the income will be taxed and you are likely to get less in terms of an income if you take that income 10 years before you actually need it.
We can hemp you take a pension lump sum while leaving the rest of the fund invested for your retirement.