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Pension liberation

Beware pension liberation scams
unlock your pension

New pension rules mean you've greater access to your pension. But you still need to be wary of pension liberation scams, which claim you can get access to your pension early.

Pension liberation scams claim they can get you money from pensions before you're 55, but the huge fees and taxes you'll pay can leave you with nowt for retirement.

New pension rules mean you've greater access to your pension. But you still need to be wary of pension liberation scams, which claim you can get access to your pension early.

These scammers claim you can get money from pensions before you're 55, but the huge fees and taxes you'll pay can leave you with nowt for retirement.

This is the first incarnation of this guide. Please tell us your experiences in the Release Pension Cash discussion.

Can I get money out of my pension early?

A lot of changes were announced to pensions in the Chancellor's 2014 Budget. The changes mean people now have greater access to their pension at retirement and no longer have to buy an annuity - which gives them a regular income for the rest of their lives.

Pension unlocking

Pension unlocking is a legitimate way to release money from your pension early. You need to be 55+ and you'll need to transfer your existing pension into a personal pension (if you are in a workplace pension scheme) so that the money can be released.

How do I unlock my pension?

Unlocking your pension is definitely one of the occasions when you need to bring the professionals in. Therefore...

Always, always seek independent financial advice.

Pension liberation

Pension liberation looks like unlocking on the surface. Scams claim you can take money from your pension before you reach 55. But you can't, and you'll get penalised for it.