'It's your income that matters, not your capital gains'
Joanne Padilla, Which? money expert, says…You can do this before you retire or reach the minimum age for accessing your pensions (currently 55, rising to 57 in April 2028). Crucially, you won’t pay any tax on the withdrawal.
Unfortunately, the allowance isn’t per pension pot. Instead, this £500 allowance can be used three times, which is designed to allow you to access retirement advice at different stages of your life.
Be warned that, unlike an independent financial adviser, they won’t necessarily consider your entire financial situation, or give financial advice. Instead they’ll list the most suitable providers, leaving you to make the final decision.
Which? Money 1-to-1 guidance
Our team of money experts can answer your questions big and small, on topics from pensions to tax and savings to scams.
Which? Money members and their immediate family get unlimited access to 1-to-1 guidance sessions.
source https://www.which.co.uk/news/article/can-i-access-my-pension-early-to-pay-for-financial-advice-aQIhL7D7SgdS