If you have an existing Retiready Pension you can normally take 25% of the fund being used to provide benefits as tax-free cash, you may be entitled to more or less than that. 

For free and impartial guidance to help you understand tax-free cash visit Pension Wise, a service from MoneyHelper which is backed by the government. If you're over age 50, you can arrange an appointment with Pension Wise – this can be face-to-face or by telephone.

If you're unsure which retirement option is best for you, we recommend seeking advice from a financial adviser. There may be a charge for this. 

This information is based on our understanding of current taxation law and HMRC practice, which may change.