Are you thinking about withdrawing a lump sum from your pension? Whilst it can be an attractive option, it’s important to remember that a pension is designed to provide you with an income throughout retirement. Before making a withdrawal, you should ask yourself:
Would taking a lump sum now affect the lifestyle you can comfortably afford?
Could it mean you run out of money during retirement?
Taking a lump sum from your pension
Once you reach the age of 55, your pensions will be accessible. You're free to choose how ...