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Pension Benefits

• Were you born before 6th April 1960?
• Do you have a pension plan?
• If you have answered yes to these you might be interested in learning that the opportunity to take benefits from your pension will be delayed until you reach age 55, after 5th April 2010.
• This could be particularly relevant if you could benefit from taking tax free cash of typically 25% of your fund value. The balance of your pension plan can remain invested until you need to generate income.
• Remember this also applies to pension funds that have accumulated as a result of you being contracted out of the State Earnings Related Pension Scheme (SERPS) or State Second Pension (S2P)

This action will not be suitable for everyone and a full understanding of both your financial situation and existing pension plans would be required before specific advice can be given.

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