Don’t forget, hasty decisions about your pension savings could have an impact on your future. If you’re looking for advice, Pension Wise offer free impartial guidance online, over the phone or face-to-face.
If you’re experiencing financial difficulties, it’s worth exploring any other savings you might have before taking your pension savings and looking at what other sources of support are in place. More information can be found on the MoneyHelper website.
If you’re over your normal minimum pension age, and have £10,000 or less saved in your pension pot when you choose to access it, you may be able to take it as a ‘small pot lump sum’.
Before you’re able to take your money, all contributions into your pension pot must have stopped. You’ll need to let your employer know you’d like to leave the pension scheme before you start taking your pension. Find out more if you think contributions are still being paid by your employer
When you’ve decided how you want to take your savings and you’re ready, find out how to take your pension money.