Can I take my pension as a full lump sum?

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Pension flexibility changes introduced on 6 April 2015 mean that taking your pension savings as a full lump sum is now an option for many people. While this may seem appealing, it's important to understand the specific options available to you, for your pension plan, and the impact of taking a full lump sum.

Your Retirement Planner(Opens new window) will give you more information about taking a full lump sum to help you decide how to take your pension benefits. If you're unsure, we strongly recommend you seek guidance or advice.

We strongly recommend you get guidance or advice before taking a full lump sum payment.

Pension Wise is a free and impartial government service which can give you guidance to help you understand your options at retirement. You can contact them at new window) or by calling 0800 138 3944.

You can also speak to your financial adviser if you have any questions which there may be a charge for. If you don't have a financial adviser, please visit new window)