Frozen Pension Release

Pension Surrender

The term Pension Surrender is often used when people want to receive a lump sum of money from their pension early. Obtaining cash from your pension via pension surrender is for the most part not advisable. Pension fund proceeds, regardless of whether they are occupational scheme or personal pension scheme funds, are intended to provide plan members with an income after they have retired, so to surrender pension benefits early would usually reduce the eventual retirement income. Pension Surrender normally gives you the option to release part of your pension as a cash sum, tax free, and the rest of the funds would provide you with an income for life; this is taxed as earned income. Whether people cash pensions via pension surrender from an occupational pension scheme or personal pension scheme, you can still usually take a cash sum as well as income. This tax free cash sum is known as the Pension Commencement Lump Sum or PCLS. The income you receive will depend on several factors including where the money comes from – a personal pension or occupational scheme. To a certain extent you have much more choice about how the income can be paid from a personal pension compared with an occupational scheme. You have the option to surrender pension benefits without the need to take immediate income. Even so, to release pension benefits through pension surrender, from any type of scheme, you need to consider your options thoroughly, which is where firms such as Frozen Pension Service can help.

Looking for expert help with your Frozen Pension? You're in the right place.

Call the Frozen Pension Service on 0800 1223 104

Get your FREE no obligation Personalised Recommendation

  • Is your current pension struggling to beat the rate of inflation?
  • Are Management fees taken even if your pension pot decreases?
  • Do you feel that your financial security when you retire could be drifting further away?

Do you hold a frozen or previous employers pension, or a pension with an Insurance company including any of these providers?


Expert Frozen Pension & Financial Advice

We'll find you an Expert Pension Advisor who we think you could work with. They will help you review your arrangements in simple and easy to understand steps. They work for you and will have a range of investment ideas and products.

Your information is 100% secure and we offer you help and guidance along the way.

Have a Question?

Got a question for us or not sure how to apply? Please call us on freephone 0800 1223 104

This service is operated by Unbiased Finance, helpline number 01782 478703.
Our operator service is available between 9am to 5:30pm Monday-Friday.