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- Pension_release abstract "Pension release is the removal of money from a pension fund at the age of 55 or older. Under UK law, as part of their transfer to a new provider a person can access up to 25% of their defined contribution fund tax free from the age of 55. They do not have to start taking income while the rest of the fund remains invested. The State Pension does not allow pension release.Between April 2014 and April 2015, the entirety of a fund can be removed if it is not higher than £30,000. From April 6, 2015, there will be no limits on how much money can be removed, but all withdrawals outside of the 25% tax-free cash will be treated as taxable income.With the exception of pension recycling (adding released money back into a pension to enjoy tax relief for a second time), there are no restrictions on how the money can be used by the individual. A popular use is to tackle debts before entering retirement.Pension release is only available from a defined contribution pension fund that allows income drawdown, which is the mechanism that allows tax-free cash to be removed while keeping the rest invested. Members of a defined benefit, or final salary, scheme must transfer to a defined contribution scheme to have the option of pension release, but advice should be sought before doing so as it can mean relinquishing a number of benefits. The government has announced that only funded defined benefit schemes will be able to transfer out after April 2015, which will exclude most public sector pensions.".
- Pension_release wikiPageID "21802208".
- Pension_release wikiPageLength "5244".
- Pension_release wikiPageOutDegree "21".
- Pension_release wikiPageRevisionID "667391210".
- Pension_release wikiPageWikiLink Cash.
- Pension_release wikiPageWikiLink Category:Pensions_in_the_United_Kingdom.
- Pension_release wikiPageWikiLink Confidence_trick.
- Pension_release wikiPageWikiLink Confidence_tricks.
- Pension_release wikiPageWikiLink Defined_benefit_pension_plan.
- Pension_release wikiPageWikiLink Fraction_(mathematics).
- Pension_release wikiPageWikiLink Government.
- Pension_release wikiPageWikiLink HMRC.
- Pension_release wikiPageWikiLink HM_Revenue_and_Customs.
- Pension_release wikiPageWikiLink Income.
- Pension_release wikiPageWikiLink Income_drawdown.
- Pension_release wikiPageWikiLink Investment.
- Pension_release wikiPageWikiLink Law.
- Pension_release wikiPageWikiLink Money.
- Pension_release wikiPageWikiLink Pension.
- Pension_release wikiPageWikiLink Pension_liberation.
- Pension_release wikiPageWikiLink Public_sector.
- Pension_release wikiPageWikiLink Recycling.
- Pension_release wikiPageWikiLink Tax_exemption.
- Pension_release wikiPageWikiLink Tax_free.
- Pension_release wikiPageWikiLink Terminal_illness.
- Pension_release wikiPageWikiLink UK.
- Pension_release wikiPageWikiLink United_Kingdom.
- Pension_release wikiPageWikiLinkText "Pension release".
- Pension_release wikiPageWikiLinkText "pension release".
- Pension_release hasPhotoCollection Pension_release.
- Pension_release wikiPageUsesTemplate Template:Reflist.
- Pension_release subject Category:Pensions_in_the_United_Kingdom.
- Pension_release hypernym Removal.
- Pension_release type Article.
- Pension_release type Company.
- Pension_release type Article.
- Pension_release type Service.
- Pension_release comment "Pension release is the removal of money from a pension fund at the age of 55 or older. Under UK law, as part of their transfer to a new provider a person can access up to 25% of their defined contribution fund tax free from the age of 55. They do not have to start taking income while the rest of the fund remains invested. The State Pension does not allow pension release.Between April 2014 and April 2015, the entirety of a fund can be removed if it is not higher than £30,000.".
- Pension_release label "Pension release".
- Pension_release sameAs m.05p4qj1.
- Pension_release sameAs Q7164773.
- Pension_release sameAs Q7164773.
- Pension_release wasDerivedFrom Pension_release?oldid=667391210.
- Pension_release isPrimaryTopicOf Pension_release.