For UK citizens only - Pensions

If you are a UK citizen (well anyone who pays UK National Insurance contributions actually) and they opted out of SERPS in the mid to end of the 80's , which meant part of your National Insurance contributions were paid into a private pension fund by the government (the old DHSS).

This part of your state retirement pension, if you opted for it to be paid into a private pension fund, can be withdraw from age 50 onwards. This changes to 55 from April 2010. Anway, 25% can be paid in cash tax-free with the rest paid as a monthly pension or all as a monthly pension if you so wish. If you didn't opt out, then you have to wait till the state retirement age when it will be paid with your state pension as normal.

Thought I would share this with you. If you need any more specific info, you can pm me. I'm pretty clued up about this subject.