Verify your Motivations before You Choose Pension Release

Generally, UK pension holders contribute to their personal pension fund or old Company pension fund for the main purpose of having lump sum cash or income when they finally retire. Whilst this may be the primary purpose of pension funds, UK pension holders may find the need to draw from their pension before their retirement age and it is under this condition when pension release is considered.

UK pension holders are well advised to keep their old company pension fund or personal pension fund untouched until they retire at age 60 or 65 so that they get the maximum amount of earnings or returns from their investment in such pension funds. However, there will be some specific instances where you may consider pension release and draw a portion or segment of the cash sum tax free even before your retire.

UK personal pension funds and old company pension funds can be used as source of extra cash or income prior to retirement age of either 60 or 65 through pension release. As such, UK pension holders should consider their pension as some form of savings fund which can be used to address specific liquidity problems.

You can seriously consider pension release if you intend to settle some existing loans by using a portion of your personal pension or old Company pension. However, your final decision to take out such tax free lump sum cash or income through pension release will be dependent on the potential income that could have been generated if such funds remain intact and stay as part of your pension fund.

UK pension holders should carefully weigh the cost-implications of their decision to tap part of their pension funds through early pension release and settle or repay their loans. In situations where the interest of such existing loans are higher than the potential income that can be generated if the same funds remain invested then it doesn’t require the expertise of an accountant or financial analyst for you to know that you are better off opting for pension release to generate the funds needed to settle such loans.

UK pension holders must always look at the potential yield of their investments, and these include their personal pension funds or old company pension funds, when it comes to financial planning. For instance, if you are holding pension funds with guaranteed annuity rate, then it is but logical that you base your decision whether to opt for pension release or not on the expected income that you can generate from such investment.

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Tax Free Cash

TAX FREE CASH can be yours if you have had a private or company pension, you are at least 55 years of age, or older and have £15000 in your pension fund.

On each pension policy applicants can have up to 25% of the pension fund as a Tax FREE cash payment at the retirement date that has been specified and a pension release enables people to get the funds much earlier. In some cases, it could be possible to get access to mor and because this is  your money  that has been invested there are NO monthly repayments!!

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FREE Checks!

We ensure you are provided with advice from expert pension release advisers. You will have all the information needed to make the right choice and have ALL the facts about whethere opting for Pension Release is the right choice.

PensionRelease.org will can put you in touch with an advisor who will perform a free investigation of your pension to see if Pension Release is the right option for you to consider

And remember, you will Never be under any pressure -  we will only get paid a commisison if you decided to release your pension.

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Early Pension Release

An early pension release is simply a term that is used for taking advantage of the benefits from your pension prior to you retiring. With a pension release you can get access to the maximum tax free cash and/or maximum income.  Alternatively, you can release a cash lump sum and then reinvest the balance until the point at which you decide to retire.

Many people like to tap into the payments they have made over the years towards their pensions. By using an early pension release you are able to receive a lump sum, tax free against the value of your pension.

We are able to make all of the arrangements that are needed for this. We liaise with you from the outset; after you have completed the online pension release application we then contact you within 24 hours and plan the best possible pension release plan for you to consider. We will provide you with an easy to understand, clear and concise report detailing what is the best option and how much tax free cash you can get.

You can then use the money as you wish. Simple, secure tax free online pension release unlocked!

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Pension Release – Critical Parameters to Consider

Every non-state pension schemes has a provision that allows you to draw up to 25% of the current value of your pension fund tax free when you reach retirement age. However, you have another alternative by which you can draw from your pension even before you retire. Pension release is the process that involves what finance experts refer to  as “unlocking” or drawing from your pension fund before you reach the retirement age and releasing a maximum lump sum cash or maximum fixed income.

If you possess a frozen company pension or a personal pension scheme and you are at least 55 years of age, then you may seriously consider “unlocking” your pension fund to release some cash or reinvest a portion of the fund in other investment options with higher margins. In fact, you can draw as much as 50% of your pension fund if the fund value is at least £15,000 and your age is at least 55.

Pension Release Options

Based on the pension type, you can choose between two pension release options:

  • Lump Sum (Tax Free) – This pension release option allows you take out up to a maximum of 25% of the value of your person fund as a single one-time cash release. Under this option, you may also initially take out a portion of the 25% value of your pension fund and schedule the release of the remaining balance of that portion of your pension fund at a later date or when you finally retire.
  • Regular Taxable Income – This pension release option allows you to receive cash payments by investing a portion of your fund or by purchasing annuity.

Risk Implications and Other Considerations

Pension release has various risk implications, and you need to carefully assess your decision and verify whether such option is financially viable for your unique condition or not. For instance, your fund value must have breached the £15,000-mark before you can seriously consider this scheme. Further, you must be able to understand everything about time value of money.  When you opt to utilize your pension fund, which is an unearned income, before your retirement age, you are in effect reducing the realizable income from your pension scheme.

Even with pension release, you can still maintain your regular contributions and this will give you the opportunity to enjoy tax incentives while adding on the value of your pension fund and your realizable income when you finally reach your retirement age. In addition to this, you can still maintain your gainful employment even after you take up any of the two pension release options.

Each of us has a unique circumstances and pension scheme and it is extremely important that we carefully assess our options and seek professional advice before we make our final decision. At the end of the day, your decision will have to be based on the benefits that you will gain when you opt to take out a portion of your pension fund before you retire. The gains must outweigh the cost of such scheme and greater than the benefits that you would have gained from your foregone alternatives.

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