![]() ![]() ![]() You can take a tax-free cash lump sum of up to 25% of your fund (prior to 6 April 2023, subject to the lifetime allowance. You can use the assets in your SSAS to provide some or all of the following benefits: Tax-free cash You can take benefits from your SSAS any time after age 55, t he normal minimum pension age will rise to age 57 from April 2028. Please use the below link to the MoneyHelper website to understand and compare your investment pathway options (for pension drawdown), you will need to know your current pension pot and have your date of birth available. (This information has been obtained from the Bank of England inflation calculator). Example: Goods and services costing £10,000 in 2010 would cost £13,112.60 in 2020 based on inflation averaging at 2.7% a year. If you have 50% or more in cash, long-term this is unlikely to grow sufficiently to meet your objectives. Please find below an example showing how inflation would affect a £10K pot over 5 years. Cash warningĥ0% or more cash investment is not likely to provide your long term objectives, clients can shop around, this is a reminder that guidance and advice are available from FCA regulated advisers. Before taking any benefits we also strongly recommend you seek advice from your Independent Financial Adviser. I f you prefer a face-to face appointment call 08. I f you are aged over 50, you can receive free, impartial guidance from the government, go to Pension Wise, a service provided by MoneyHelper, website or alternatively phone them on 08 to arrange an appointment for a free guidance meeting. You now have the freedom to choose the option that’s right for you. The government has removed the restrictions on what you can do with your pension savings. Taking Retirement Benefits from your SSAS ![]()
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