Need cash before retirement.

cashflow

jamesd wrote: »

Of the options you've given, equity release may well be the cheapest. You might also discuss this with your bank to see whether they would consider an overdraft facility or personal loan to be repaid from the pension lump sum later this year. If you can get that it would probably be the cheapest available option...

Thanks for your help and advice, Jamesd.

cashflow

dunstonh wrote: »

Which suggests it is a section 32 buy out bond or hybrid scheme. If you transfer those into a personal pension you lose the guarantees but can get paid the 25% of the residual transfer value. For rare cases that can be a good thing where tax free cash is less than 25% and there are no guarantees or guarantees can be met with alternatives. However, for most, the loss of the guarantees can be very expensive and there is often a break even point. It will depend on where that breakeven point is that really matters.

Thank you for taking the time to give your advice, dunstonh.