Is it possible to take my 25% lump sum now and still continue to add to my pension plan?

Trendisyrfriend

Registered User
Messages
6
Background:
We're on an interest only tracker mortgage, 5.05% latest rate.

I'm self employed and have built up a directors pension of approx. 500k during the low interest rate years.
Funding the pension and paying no capital off mortgage.

I'm now overpaying since interest rates started increasing recently but still have 235k left to pay. (No other loans)

Also, have a mortgage free apartment which provides an income.
Wife will have a teachers pension on retirement in a few years.

For peace of mind I'd like to pay 125k off the mortgage (25%) from my pension.
I plan to work another few years to get the rest of the mortgage paid off before retiring.

Question:

Is it possible to take my 25% lump sum now and still continue to add to my pension plan?
Will these additional funds be eligible for a tax free lump sum on retirement?

Many thanks for any help you can provide.
 
Are you still a director of the same company? Is it still your job? What age are you?