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What does Pensions Freedom mean for you?

Pensions Freedom could be liberating. But without expert advice, it could be costly.

Important pension changes came into effect in April 2015, and with the right advice, the financial benefits could be vast. Speak to one of our advisers, and we’ll give you all the information you need, answer all your questions and offer tailored advice. We’ll help you make the most of your pension so you can avoid unnecessary tax bills and generate a sustainable income.

Pension Freedom could make a positive impact on your retirement plans. To find out how, call us on 08082528113 to request an appointment, or pop into your local NFU Mutual office.

Let’s talk

Advice from the experts

Our financial experts will help you plan for your retirement. We’ll explain your options in plain English and advise the most tax-efficient routes to achieve your goals.

We’ll guide you through the advice services we offer, our charges, and we’ll put you in touch with your local Financial Adviser. NFU Mutual Financial Advisers advise on NFU Mutual products and selected products from specialist providers.

Speak to an adviser

Explore the possibilities

We’re here to help you make the right decisions. By understanding your circumstances, and listening to exactly what you’d like to achieve, we can help you to understand and profit from the financial freedom available to you.

Cash in all of your pension aged 55+?

You can now choose to cash in all of your saved pension.

The first 25% will be tax free and the remaining 75% will be taxed at your normal income tax rate. This may be very tempting, but there could be tax to pay and unless you have an immediate need for the money it’s unlikely to be the best option for you.

Buy an annuity?

It's not an obligation, but it's still an alternative.

For some, a traditional annuity will provide the security of a guaranteed income for the rest of your life – you just need to know all the pros and cons, to fully understand how it would benefit both you and your family’s future.

Cash in and treat yourself to a new car, holiday or extension?

After all it’s your money…for you to spend as you wish, and we never forget that.

As it should, Pensions Freedom gives you the freedom to plan for your future, as well as enjoy today – but there could be tax considerations to bear in mind. Talk through your aspirations with us and we’ll make sure you fully understand the bigger picture to choose wisely.

Cash in part of your pension and re-invest in a ‘buy to let’?

Creating an income from rental property might be something you want to explore further, now that you have the freedom.

By releasing a lump sum from your pension, you may be able to release the necessary funds to re-invest in this way. Our experts can talk you through the pros and cons of taking money out of a pension.

Leave part of your pension fund as an inheritance?

It’s only natural to want to leave something for the next generation, and you now have the freedom to do that if you choose not to buy an annuity.

We’re here to share our knowledge on taxation and investing, so that you know what to do and when, to plan efficiently for your family’s future.

Give my child the tax-free lump sum?

An attractive way to share your hard earned savings with loved ones – but are there any implications?

 By talking to you and understanding your expectations, we’ll make sure you’re fully in the picture of what gifting means to you personally.

Should my pension be the last investment I touch?

Pensions are very tax efficient investments, so you may decide to explore a whole range of other investment options before accessing your pension.

Our experts are here to explain all of the different options available to you – so that you can make the right choices.

Do nothing and wait?

Could be the best decision, as long as you have an idea about what you’re potentially waiting for and a good understanding of what you’re potentially missing out on.

We’re here to put you in control of your own future, by equipping you with the detail you need to decide.

Need to know

The value of pension tax benefits depends on individual circumstances and can change in the future. The value of investments can go down as well as up, and you may get back less than you have invested.