Regulated financial advisers can give you advice on what to do if you want to stop contributions or take your pension early. Often the cost of advice can be paid directly from your pension pot rather than you having to find the money.
Taking the money out will reduce the value of your pot now, but the advice may give you peace of mind that you are doing the right thing and have considered all options. Over the long term it may represent good value for money and save you making an expensive mistake.
But make sure any adviser you talk to is regulated by the Financial Conduct Authority (FCA), as that gives you more protection if something goes wrong. All the advisers on our Retirement Adviser Directory are FCA regulated.
It’s important not to interact with anyone who contacts you out of the blue and asks for any personal or bank details. Be wary, too, about any pop-up adverts when you are online – many of these firms are not regulated and, at worst, it could be a scam.
Only deal with regulated firms or organisations you’ve researched and which you trust. Reputable companies don’t cold call people.