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Archive for the ‘Pension Release’ Category
Wednesday, September 14th, 2011
Different people opt for pension release for different reasons. Whatever be your reason, it is important for you have a clear picture of what you plan to do with the funds before you have the pension release.
 Two Options for Retirement Income with Pension Release This foresight will help you utilize the funds quickly or invest them with minimum delay so that you get the most out of every penny you have saved. If you have a personal pension fund or have previous employment pensions and are considering releasing the funds accumulated there, then you have two options to choose from.
The Two Options
With the funds released from your pension you can either take out a lump sum of the money (subject to certain limitations) or you can use the funds accumulated to purchase a retirement annuity. A closer look at both these options will tell you the advantages of both.
Taking Away a Lump Sum from the Pension Fund
The most significant advantage of taking a lump sum payout from your pension fund is that you get some attractive tax breaks. You can, in fact, take up to 25% of the accumulated value of the fund tax free in this way.
If you are opting for a pension release because you have certain emergency expenses to meet, then this is the best option for you. It is not mandatory to take all of the 25% right away if you can make do with a smaller sum.
Withdraw only as much as you need to cover your emergency and leave the rest in your pension fund. At a later date or when you retire you can withdraw the rest of the 25% with the same tax advantages. Bear in mind that you have to be over the age of 55 to unlock your pension funds in this way. Plus, your pension fund should have sufficient money to allow this.
Purchasing a Pension Annuity
If you would like to convert your pension fund into a regular income source for your retirement years then you can release your pension fund and use the money to buy an annuity.
You can purchase pension annuities from insurance companies in exchange for your pension fund. The insurance company will ensure that you receive a certain amount of money periodically throughout your retirement.
You have the flexibility to choose the periodicity of the payments, which is a great advantage if you have other sources of income. This regular income takes the place of your monthly salary and keeps you financially independent even when you are no longer in employment.
Explore both these options before you decide on what you want to do with the money when you release your pension. Only by identifying which one offers the most benefits can you ensure that you get the most out of your hard earned money and diligent savings.
Taking advice from an IFA will help you decide on the best course of action to follow in case you are still unsure about what to do with your pension release funds.
If you are opting for pension release, you have two choices about what you can do with the funds – either take away a tax free lump that you invest in other avenues or purchase an annuity
Tags: advice, annuities, pension, pension Annuities, pension release, pensions, release my pension, retirement
Posted in Pension Release
Friday, July 15th, 2011
The simple answer is yes you probably can release your pension as the only eligibility criteria are that you hold a personal pension plan and are aged of 55 years old. However, releasing a pension is a serious financial decision that takes a lot of consideration, not something to jump in to head first. Take a look at the following frequently asked questions below:
 Why would I want to release my pension How Do I Release My Pension?
The first step is to contact a reputable financial adviser who can provide you with expert advice. The financial adviser should then be able to advise you personally as to the implications of pension release so that you can make decisions based on facts.
How Much Does It Cost To Release My Pension?
This will differ depending upon the financial adviser you work with but you should be able to source a firm who will take the payment from your released fund. This means that you don’t have to pay a lump sum upfront.
Why Would I Want To Release My Pension?
There are many different reasons you might want to go ahead with pension release but the main underlying reason is of course to obtain money. Releasing your pension allows you to access up to 25% of your pension so it can turn out to be a viable source of cash. Common reasons for releasing your pension include paying for a wedding, paying off outstanding debts and paying off a mortgage. Your financial adviser will only recommend releasing your pension if you have a viable reason for doing so.
Does This Mean I Am Retiring?
No, releasing your pension does not mean you have to retire. The government allow people over the age of 55 to access a portion of the cash without retiring. You are free to continue working as normal and continuing to contribute to your pension fund if you wish to.
What Happens To The Rest Of My Fund?
As you are not actually retiring your existing pension fund stays invested and any new contributions will simply be added to it. This pension pot can be used to purchase an annuity or take advantage of the many pension options available to you as normal when you retire.
Are There Any Consequences To Releasing My Pension?
Yes. Pension release is a major financial decision and it can have a significant impact on your future financial situation. Your standard of living throughout your retirement is entirely dependent upon your income. If your only income is from your pension then if this is reduced, your standard of living will be compromised. By releasing your pension you could always lose out on guarantees and benefits written into your pension. It is important that you discuss your personal circumstances with a qualified financial adviser before going through with pension release.
Are There Alternative Options To Release My Pension?
For most people there are other options available to getting your hands on large sums of money but these aren’t always viable. For example, as you are approaching retirement you might not want to enter loans or overdrafts associated with high interest charges. Also, lending money from a family member may also be preferred over pension release.
Contact Pensionlite on 01952 270 379 for more information to release my pension.
Tags: pension, pension advice, pension Annuities, pension plan advice, pension release, pension transfer, pensions, release, release my pension, release pension
Posted in Pension Release
Tuesday, June 21st, 2011
If this sounds like you, it is highly recommended that you seek professional financial advice as soon as possible. Pension release is a viable solution to seeking large sums of cash, but it is not the answer for many short term financial problems.
 I Need A Cash Injection! Should I Release My Pension? If you are asking yourself, “Can I release my pension?” contact an adviser at Pensionlite today.
Pension release is the name given to the unlocking of a cash lump sum from your pension fund before you retire. Typically, upon retirement you are able to access up to 25% of your fund in cash and use the remainder to purchase an annuity.
However, the government are now allowing people over the age of 55 to access this cash without actually retiring. The remainder of the fund is then left in your pension plan, with any further contributions being added to a new fund.
When you decide to retire, these funds will be combined, allowing you to purchase your annuity or retirement income.
Releasing your pension sounds simple, but in reality is an extremely important and serious decision which would have a significant impact on your pension income in the future.
When in financial difficulty, many people think “I could release my pension”, when in reality, it is only a suitable option for a small number of people in particular situations.
When speaking to a financial adviser you will learn about the influence that pension release could have on your quality of life throughout retirement.
As taking pension benefits early will dramatically reduce the income you receive, it is only suitable in a few situations. These could include serious financial difficulty, a large purchase, to pay off a mortgage or loan.
There are reasons that independent financial advisers use these as examples as viable reasons for pension release, and they are because it makes sound financial sense.
When retirement is nearing, it is unlikely that you would want to obtain a high interest loan or overdraft, and it would probably be more sensible to reduce your monthly income than pay the large monthly outgoings.
If you are unsure about whether pension release is right for you, it is absolutely essential that you discuss it with a professional financial adviser. IFA’s are not designed to deter you from making this important decision, but to provide the necessary advice and guidance along the way.
No reputable adviser would suggest releasing your pension if the circumstances weren’t right, but this is to protect your standard of living in retirement.
Pensionlite has a team of expert financial advisers with a specialisation in pension release which is committed to guiding their clients through the complex process, but ensuring that they are always financially safe in retirement.
It is important to remember that once you retire, your pension is your only source of income, so don’t think “I want to release my pension” for unnecessary purchases – it is usually only a realistic option for a small number of people.
For more information about pension release, then contact pensionlite today on 01952 279379 for your free pension advice.
Tags: pension advice, pension release, pension transfers, pensions, release my pension, retirement
Posted in Pension Release
Thursday, June 16th, 2011
There are a number of details about pension release UK pension holders must know before taking action to release equity from their pension fund.
Firstly, it is crucial that the pension holder is aware that their pension fund, and therefore the amount they will annually receive when they do retire, will be greatly reduced.
 Are there any risks to pension release? It is therefore very important that the pension holder give careful consideration to how their retirement life and future plans will be impacted upon by releasing pension equity early.
For some it is an expedient way to get a lump sum of cash. However, it is certainly not for everyone.
The first thing about pension release UK pension holders must know is that from the very start professional and impartial advice should be sought from independent financial advisers.
Pensionlite carry the prestigious status of Chartered Financial Planners, which places an onus on them to deliver advice, service and ongoing support which meets the highest standards of quality.
Pensionlite have no links to financial companies or pension providers and therefore give free independent and impartial advice, no obligation recommendations and comparisons of existing pensions.
If you are considering releasing equity from your pension early then a discussion with Pensionlite will provide you with all the information you will need and advice on the best course of action taking into account your personal circumstances, financial situation and future plans for your retirement.
To release equity early from your pension you must first be aged 55 years or over. This means that you can free up a lump sum of cash from your pension fund, up to 25% of it, a full decade before reaching the normal retirement age of 65.
The pension holder is free to use the money for whatever they wish. Naturally, this reduces the size of the pension holder’s total pension fund. However they can continue to make contributions into the fund throughout the rest of their working life up to retirement.
Again, the key thing about pension release UK pension holders must remind themselves about is that it will profoundly affect their pension fund, reducing its size. For many people their personal and state pension fund is what they will live on in their retirement, so any reduction of that pension fund will directly impact on their income in later life.
Pensionlite will review your pension and advise you as to whether releasing pension equity is right for you. If you decide to go ahead Pensionlite will organise the release of the equity, which may entail transferring your pension to another provider.
It is not for everyone, but should you wish to consider it as an option and have a no obligation discussion then call Pensionlite on 01952 279379 or email: enquiries@pensionlite.co.uk
Tags: pension, pension advice, pension release, pension retirement, pension transfer
Posted in Pension Release
Tuesday, June 14th, 2011
If you have a non-state pension you can obtain up to 25% of the pension fund as a tax free lump-sum upon retirement.
However, if you are aged 55 or over you could obtain up to 25% of your pension – tax free – using a pension release scheme.
 What pension schemes offer a pension release? You don’t have to take the full 25% lump-sum and may prefer a smaller amount, such as 10% or even 5%. If you take out a 10% lump-sum before you retire, for example, you can still take the remaining 15% lump-sum at a later date
What pension schemes offer a pension release?
Generally, all UK personal pensions can be unlocked for a pension release, including stakeholders, Self Invested Personal Pensions (SIPPs), or defined contribution money schemes.
Company pensions including a final salary, or occupational pensions, can be accessed directly or transferred to a personal pension scheme for the purpose of pension release.
If you have a company pension scheme you may not be allowed to unlock a pension scheme whilst you are still working for the company, or whilst you are still eligible to pay contributions. You cannot access a State Pension Fund for a pension release.
The amount you receive will depend on the size of your fund and the full details of your unique pension fund. Although a pension release can be beneficial in most cases, you should always consider your future retirement plans and current circumstances before applying for a pension release, or seek professional advice from a pension specialist.
Unlocking your pension scheme early and obtaining a lump-sum can be ideal if you have certain financial needs that cannot be met elsewhere. A pension release may also benefit your future retirement plan; paying off your mortgage early, for instance, may save you money later in your retirement.
If you are approaching retirement age, taking out a personal loan from a bank or other providers can potentially include high interest rates. You’ll have to pay interest and loan repayments for years, especially if you take out a large amount, and may find yourself paying loan repayments even in your retirement.
If you choose to unlock your pension, you can still add contributions to your pension scheme and continue working.
What are the drawbacks of a pension release?
By taking early pension benefits you will reduce the amount you receive upon retirement. You may also lose some guarantees, benefits or discretionary increases, depending on your pension plan and provider. Pension release can be complex and may vary depending on your unique pension plan. You may also incur other costs if you current pension scheme must be transferred to another plan before it can be released.
Before considering a pension release, you should speak to a professional, Financial Service Authority (FSA) regulated advisor or organisation, who can assess your needs, provide you with up to date facts about your entitled and any other guidance you may require.
Who can help?
PensionLite is a reputable pension specialist, regulated by the FSA; you receive the most recent, relevant information regarding your pension release from specialist pension advisors.
As well as providing you with essential facts and figures we also consider your personal circumstances to provide professional guidance.
Reducing your retirement fund by releasing your pension is not a decision to be taken lightly; our obligation is to give you the guidance and support to make a well-informed final decision about your pension release, taking into account your personal circumstances and future retirement plans.
For more pension release advice contact pensionlite today.
Tags: pension, pension release, pension transfer, release my pension
Posted in Pension Release
Monday, June 6th, 2011
Many people have asked themselves when looking for a way to free up some cash:
“Can I release my pension early?”
Well, yes you can, but it is a significant step to take and should not be taken lightly.
Before even considering taking action you should make a call to independent financial advisers Pensionlite, who will thoroughly review your personal circumstances, financial situation and existing retirement pension plan.
 “Can I release my pension early?” Pensionlite carry the prestigious status of Chartered Financial Planners, a status granted by the Privy Council, which is held by fewer than 300 firms across the UK and is quite simply the gold standard for financial planners.
This means that Pensionlite have a duty to make sure the advice, service and ongoing support they provide meets the highest possible standards of quality and is entirely independent and impartial.
This means that if a person poses themselves the question: “Can I release my pension early?”; and then decides to follow their thought up with action, they can have a full discussion with a Pensionlite independent financial adviser with complete peace of mind that not only will they be getting a top level service, but they will be receiving completely impartial advice.
Pensionlite have no ties to any pension provider or financial service company, they operate to help clients make the right decision regarding their pension and are directly authorised and regulated by the Financial Services Authority.
The question remains: should you release equity from your pension? There are many different reasons to release your pension early but whatever the reason, the pension holder should give careful consideration before embarking on releasing pension equity, as it will diminish the size of their pension fund.
To release pension equity the pension holder must be aged over 55 before they can release a lump sum of cash of up to 25% of their existing pension fund.
Because you have not retired when releasing pension equity early there is no reason why you cannot continue to make contributions into your pension fund to build a sizeable nest egg with which to purchase a pension annuity when you do finally decide to retire.
It is important to realise that opting to release pension equity prior to retirement will significantly reduce the income you will receive annually when you do retire.
Many people ask can I release my pension early click here to find out!
Tags: pension, pension release, release my pension, retirement
Posted in Pension Release
Thursday, June 2nd, 2011
What is pension release?
Non-state pension schemes, including company pension and any individual pensions, have the ability to provide access to up to 25% of the pension fund in cash when you retire.
Are there any risks to pension release? However, pension release is where you can access this capital before you actually retire, provided that you are over the age of 55.
Why would I want to unlock my pension?
Without patronising you with the obvious answer, you might need to access a large
amount of cash if you are having financial difficulties, but it is important that you discuss
this with a financial adviser.
Are there any risks to pension release?
Yes, this is the very important part of releasing your pension – there are many downsides to take into consideration.
The main issue is that your annual pension income will be dramatically reduced once you retire, and although this might not seem too much of an issue now, it might once you realise that your pension income will be your only income.
It is usually advised that you look at all other finance options including loans, savings, re-mortgaging before unlocking a pension.
As mentioned above, it might be very wise to go through with pension release, but it is usually only suitable in a few circumstances.
The reason that any financial adviser will ensure you are fully aware of the consequences is because the benefits to a pension are extremely hard to replace. Pension Release can be a complicated process so it is usually not a suitable solution to short term financial problems.
If you’re unsure whether pension release could be of benefit to you, why not contact one of your pension specialists at Pensionlite for some sound financial advice.
Can any type of pension be unlocked?
No, state pensions are not eligible for pension release but most company pensions and personal pensions can be unlocked unless of course you are in a scheme managed by your current employer.
If you are considering releasing cash from a pension, it may be necessary to transfer it to a personal pension first.
Where can I get more advice?
Pensionlite are independent financial advisers, meaning that any advice and guidance offered is completely impartial and unbiased, allowing you to see what options will really benefit you.
Unlike most IFA firms, we are pension specialists which means that we have a more detailed knowledge about pension release, and whether it is a suitable option for you. Contact us today for more information.
Tags: pension, pension release, release my pension, retirment
Posted in Pension Release
Friday, May 27th, 2011
If you are thinking that you don’t need pension release advice from a qualified independent financial adviser, unfortunately you are wrong.
 There is a lot of information around on the internet about pension release and the fantastic benefits it can bring to you and your family, particularly in times of struggle.
However, and that is just a fancy but, where there are ups, there are always downs, and it is these drawbacks that you absolutely must consider when thinking about releasing your pension.
If you were not already aware, pension release is the term used to describe the withdrawal of a cash lump sum from your pension fund before you retire. The UK government allows people over the age of 55 who have a personal pension plan to access up to 25% of the fund in a tax free cash lump sum.
The remainder of the pension is left alone until you are due to retire, when it would be used to purchase an annuity.
Although this all sounds great, pension release is only a realistic and financially viable option to a small number of people in few situations. For example, if you were looking to start your retirement in complete financial freedom so you wanted to pay off any outstanding loans or mortgages early, this could be worth considering.
Withdrawing thousands of pounds from your future income early for, let’s say a huge party, probably isn’t the best idea.
Everyone’s circumstances are completely different, so it is impossible to receive a ‘one-size fits all’ piece of advice stating that pension release is either a good thing or a bad thing.
If you are considering releasing your pension, either to ease a financial burden or to avoid any high interest charges on other forms of credit, it is absolutely essential that you seek pension release advice from an expert.
The reason we might be harping on about real pension release advice is because it is necessary to assess whether it is a financially viable decision for you. As highly trained pension specialists, we can’t stop you from releasing your pension, nor would we want to.
Our job is to simply provide you with all the relevant information about the process, the pros and cons of pension release, and whether we believe it to be sound idea – you are not obliged to take our advice.
Obtaining professional pension release advice now could be the difference between the retirement you have always dreamed of, and the one you feared. Withdrawing large sums of money from your pension fund early will obviously reduce the amount you have at retirement to purchase an annuity.
With having less money, and the declining annuity rates, you could you’re yourself in hot water when you decide to retire. Depending on the percentage of the fund you released, it could have a significant impact on your annual pension income.
 It is essential that you are fully aware of the consequences of your decisions and that the benefits of pension release will outweigh any possible drawbacks in the future. Contact one of our pension specialists today for clear and impartial pension release advice.
For more pension release advice why not contact here for more information.
Tags: advice, pension, pensions, release, release pensions
Posted in Pension Release
Wednesday, May 25th, 2011
If you have a non-state pension you can obtain up to 25% of the pension fund as a tax free lump-sum upon retirement.
However, if you are aged 55 or over you could obtain up to 25% of your pension – tax free – using a pension release scheme.
 What pension schemes offer a pension release? You don’t have to take the full 25% lump-sum and may prefer a smaller amount, such as 10% or even 5%. If you take out a 10% lump-sum before you retire, for example, you can still take the remaining 15% lump-sum at a later date
What pension schemes offer a pension release?
Generally, all UK personal pensions can be unlocked for a pension release, including stakeholders, Self Invested Personal Pensions (SIPPs), or defined contribution money schemes.
Company pensions including a final salary, or occupational pensions, can be accessed directly or transferred to a personal pension scheme for the purpose of pension release.
If you have a company pension scheme you may not be allowed to unlock a pension scheme whilst you are still working for the company, or whilst you are still eligible to pay contributions.
You cannot access a State Pension Fund for a pension release.
The amount you receive will depend on the size of your fund and the full details of your unique pension fund. Although a pension release can be beneficial in most cases, you should always consider your future retirement plans and current circumstances before applying for a pension release, or seek professional advice from a pension specialist.
What are the advantages of releasing my pension early?
Unlocking your pension scheme early and obtaining a lump-sum can be ideal if you have certain financial needs that cannot be met elsewhere.
A pension release may also benefit your future retirement plan; paying off your mortgage early, for instance, may save you money later in your retirement.
If you are approaching retirement age, taking out a personal loan from a bank or other providers can potentially include high interest rates. You’ll have to pay interest and loan repayments for years, especially if you take out a large amount, and may find yourself paying loan repayments even in your retirement.
If you choose to unlock your pension, you can still add contributions to your pension scheme and continue working.
What are the drawbacks of a pension release?
By taking early pension benefits you will reduce the amount you receive upon retirement. You may also lose some guarantees, benefits or discretionary increases, depending on your pension plan and provider.
Pension release can be complex and may vary depending on your unique pension plan. You may also incur other costs if you current pension scheme must be transferred to another plan before it can be released.
Before considering a pension release, you should speak to a professional, Financial Service Authority (FSA) regulated advisor or organisation, who can assess your needs, provide you with up to date facts about your entitled and any other guidance you may require.
Who can help?
PensionLite is a reputable pension specialist, regulated by the FSA; you receive the most recent, relevant information regarding your pension release from specialist pension advisors.
As well as providing you with essential facts and figures we also consider your personal circumstances to provide professional guidance. Reducing your retirement fund by releasing your pension is not a decision to be taken lightly; our obligation is to give you the guidance and support to make a well-informed final decision about your pension release, taking into account your personal circumstances and future retirement plans.
For more information about pension release then click here.
Tags: pension release, pension uk, pensions, release my pension, release pension
Posted in Pension Release
Wednesday, May 18th, 2011
The answer to the question, “Should I release my pension?” depends on your personal circumstances and what you need the income and ore capital for.
The government allow you to release up to 25% of your pension fund once you reach the age of 55.
 I want to release my pension However, no one is forcing you to release the full amount, if anything. It is perfectly acceptable to keep your full pension invested until you retire, as you could gain access to a cash lump sum then too.
What is the first step when considering whether to release my pension?
Seek independent financial advice. You might think this a luxury, but it is actually a necessity. If you are considering any major financial decision, particularly pension release, it is absolutely essential that you discuss your options with a professional adviser.
By obtaining impartial advice, and being fully aware of the pros and cons, you will be able to make an informed decision about pension release.
If this is something you have thought of on a whim and have no real reasoning behind wanting to release your pension, it won’t be for you.
Pension release can be a life changing financial decision with serious implications for the future.
By releasing your pension you are taking benefits from your fund early, leaving less cash in your pension pot when it comes to purchasing an annuity at retirement.
Are there any other drawbacks to pension release?
The main disadvantage to releasing your pension is the reduced fund you will have to provide you with income in retirement. It is also possible that you will also lose out on any guarantees and benefits written into your pension plan.
If you were to release your pension as soon as you are eligible at the age of 55 because of an immediate need you can still contribute to pensions to create more funds in the future as your circumstances improve.
Can Pensionlite help me consider releasing my pension?
Yes. Our Free, Independent, No Obligation Pension Reviews are designed to put you in a position of knowledge before you make any decisions.
It will not cost you a single 1p to accept a pension review and recommendation report tailored to you, your circumstances and aspirations.
What have you got to lose?
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understanding of our client’s needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Tags: pension release, pensions, release, release my pension
Posted in Pension Release
Friday, May 13th, 2011
If you are over the age of 55, you can release up to 25% of your pension fund in a tax free cash lump sum.
 Pension Release UK advice that you need. This doesn’t mean you are retiring, simply withdrawing some of the capital.
We will be honest with you; this option is not recommended for the majority of people, however for a people in particular circumstances, it is a viable financial decision.
How does pension release UK work?
It’s pretty much as simple as it sounds, you discuss whether it is a sensible option for you and, if appropriate, we will do the rest of the work for you.
You will then be given a cash lump sum of the amount of your choice (up to a maximum of 25% of your fund).
You say it’s not right for everyone – why not?
Pension release UK is a huge financial decision which could potentially drastically improve your standard of living, but if you are not in the right situation, it can have the same negative effect on your retirement.
If you withdraw a large amount of cash from your fund, and continue to work for the next 5-10 years, you can continue contributing. However, it is extremely unlikely that your fund will be topped up to where it originally was. This leaves you with less money to purchase an income when you fully retire.
Are there any other disadvantages?
Yes, you might also lose any guarantees or benefits written into your pension plan.
It might sound like we are against pension release UK, but we are simply reiterating what a serious decision it is. We are here to advise you on the best options for you, so if we think pension release could harm your retirement, we probably won’t suggest it.
However, if it turns out that pension release is the perfect solution for you, we will recommend it as an option open to you.
As Independent Financial Advisers, we are here to provide you with impartial advice. We don’t want to sell you anything. We don’t want you to do anything that could put your financial security at risk.
If you are interested in pension release UK, but you’re unsure whether it is a worthwhile risk, contact us and we can carry out a full analysis of your personal and financial circumstances.
Can Pensionlite help me consider releasing my pension?
Yes. Our Free, Independent, No Obligation Pension Reviews are designed to put you in a position of knowledge before you make any decisions.
It will not cost you a single 1p to accept a pension review and recommendation report tailored to you, your circumstances and aspirations.
What have you got to lose?
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understanding of our client’s needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk
or visit our web site www.pensionlite.co.uk and send us an enquiry that way you can get pension release uk advice that you need.
Tags: pension, pension release, release, releasing, uk
Posted in Pension Release
Thursday, April 21st, 2011
If you haven’t already heard, once you reach the age of 55 the government allows you to access up to 25% of your pension fund in a tax free cash lump sum in a process called pension release.
 The idea behind this is that you can access some of the hard cash that you have spent years saving and investing for your future.
Many people reach a certain age and wish that they could release some of the equity they have tied up in assets such as a house .
Well now, the government are allowing individuals to access a portion of their personal pension fund without retiring.
Set yourself free in retirement – pay off outstanding mortgages now with pension release!If you have a decent pension fund and feel that you will be more than comfortable throughout your retirement, you might want to access some of the cash to pay off an outstanding mortgage.
Not only would this allow you to save thousands of pounds in interest payments over the next ten years or so, but it would also grant you complete freedom in your retirement. With no worries about mortgage repayments, you know that your annual income can be used solely to support the lifestyle you want.
Why else might I want to release my pension?
The main and obvious reason for pension release is to access money, but what you want to spend that money on is key as to whether the process would benefit you.
The majority of people want to have that cash lump sum to pay off any loans, or pay for a wedding or another large purchase.
Alternative reasons to consider pension release are if you are in financial difficulties and require cash to pay off debts.
These are all legitimate reasons to release equity from your pension.
Can I release my pension for any reason? Technically yes, but it is not recommended. Pension release is a serious, potentially life changing, financial decision and it is only suitable for a small number of people in particular situations.
For example, if you were thinking of releasing a pension for a huge party, it’s probably something we wouldn’t advise! However, once you have released the cash, it is your decision as to what you do with it.
?There must be some negatives? Yes there are, as we mentioned pension release is a huge decision mainly because it will reduce your annual pension income for the rest of your life.
Although you can continue working after pension release to top up your fund again, it is extremely unlikely it will ever get back to its original state. If you decide to release your funds, you must talk it through with an independent financial adviser.
By seeking this professional advice, you will be in a better position to judge if pension release is right for you and your family.
If you don’t you may lose out on income and you might also have to let go of any benefits and guarantees that are written into your existing scheme.
Pensionlite can help.Our Free, Independent, No Obligation Retirement Reviews are designed to put you in a position of knowledge before you make any decisions.It will not cost you a single 1p to accept a pension release & recommendation report tailored to you, your circumstances and aspirations.
What have you got to lose? Pensionlite carries the prestigious status of Chartered Financial Planners.Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
 This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation. Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understanding of our client’s needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work. Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service. To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.ukor visit our web site www.pensionlite.co.uk and send us an enquiry that way you can get the pension release advice that you need.
Tags: pension release, pension release UK, pension transfer, release my pension
Posted in Pension Release
Monday, April 11th, 2011
So, you’ve heard that once you hit the age of 55, you are allowed to release a tax free lump sum of up to 25% of your pension fund. It might seem like the lottery windfall you have always dreamt of, but unfortunately unlocking equity from your pension comes at a cost.
It is essential that you don’t jump into this huge financial decision without obtaining professional pension release advice.
Is pension release a good idea?
We know that a tax free lump sum out of your pension before you retire sounds a bit like all your Christmases have come at once, but it really is an important decision with some serious consequences. It’s not that pension release is a bad idea, it is just only suitable for few people in certain circumstances.
Who can release their pension?
You cannot release money from your state pension but you can from other schemes. If you are over the age of 55 you qualify BUT your existing scheme may not allow this. If your pension is with your current employer it is most likely that you would have to cease being a member of that scheme with serious financial loss.
If you have pensions from past employment or personal pensions it is worth at least considering your options.
Normally the maximum you can release from your pension is 25% of the fund value but pension release is not advisable for most people unless in extreme circumstances.
Why do I need expert pension release advice?
If you are considering pension release you will need a thorough review of your current pension, other finances, attitude to risk and personal circumstances. An independent financial adviser is able to do this for you, allowing you to assess when pension release really is the right choice for you.
What are the disadvantages to releasing my pension?
The main downfall is that reducing the size of your pension fund decreases the amount of money you have available to purchase an annuity at retirement.
This will have a significant impact on your annual income, and is not recommended if you will have financial struggles through retirement as a consequence.
Can Pensionlite help?
 Yes, of course we can. As pension and retirement specialists, we are ideal providers of pension release advice. We are committed to helping customers unlock their pensions, but we want you to make sure that the decision is right for you.
We believe that by working together we could enhance your retirement, rather than hinder it with worries about bills and making ends meet.
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk to get the pension release advice that you need.
Tags: need pension release advice, pension release, pension release advice, release pension
Posted in Pension Release, Pension Release for over 55's
Wednesday, April 6th, 2011
If you are struggling financially but have thousands of pounds tied up in a pension fund, have you considered pension release? The UK government allows people over the ages of 55 to release pension money from their personal pension fund.
You can access up to 25% of the fund that you have saved up throughout your working life but leave the remaining balance invested.
 Does releasing pension money mean I am retiring?
No. The government allow you to access up to 25% of your pension fund over the age of 55 without having to retire. The rest of your money can stay in the fund and continue to grow.
You can also add further contributions at some point in the future when your finances are in a better state and these will produce more tax free cash and more income.
Why would I want to release pension money?
Generally, independent financial advisers do not like to recommend pension release due to the drawbacks associated with it. However, in certain circumstances the result can be life changing.
What are the disadvantages?
There are a number of drawbacks to releasing your pension prior to retirement, particularly if you release pension cash as early as possible. These include a smaller pension pot to buy an income at full retirement leading to a lower living standard.
Pension release can be very risky if you are unsure of just how comfortable you will be throughout your retirement.
Do I need professional advice?
Yes. By working with an independent financial adviser, you can have your current situation and pension assessed. This will allow you to understand how much your pension pot is worth now with a projected annual income, and how much you are likely to receive if you do release pension money from the fund.
A financial adviser will also ask you to complete a questionnaire which will allow the adviser to understand your attitude to risk; and will also need to know details about your personal life such as marriage, dependents, and the lifestyle you wish to achieve. Only then can your adviser make an appropriate recommendation regarding releasing your pension benefits early.
Can Pensionlite help?
Pensionlite carries the prestigious status of Chartered Financial Planners.
 Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
Tags: pension release, release my pension, release pension
Posted in Pension Release, Pension Release for over 55's
Tuesday, April 5th, 2011
If you hold any UK personal pension, including stakeholder and Self Invested Personal Pensions (SIPPs), you can release pension money from your fund if you are over age 55. Most company pensions are also able to do this indirectly; however, this is usually not advised if you are still working at the company. You cannot release equity from a State Pension.
I’m still not sure why I would want to release pension equity.
The reason many people want to unlock their pension is to access a tax free lump sum, as pension release you to obtain up to 25% of your fund once you reach the age of 55.
I don’t want to retire yet.
This is one of the attractions of pension release.
Many people would like to have capital to use to pay off a mortgage or if in financial difficulty, but don’t want to retire. By releasing pension equity, you are not retiring – you are still eligible to continue in employment until you decide to retire, and are even still able to contribute to your pension fund as normal.
Some people prefer to increase their pension contributions or make additional voluntary contributions, at a later date, to top up their fund once a time of difficulty or reduced expenditure has passed.
There must be a catch.
If you choose to release pension funds before you retire, there isn’t a catch as such but there are some serious consequences to consider. By taking a large chunk out of your fund, you are reducing the amount available to purchase an annuity, therefore lowering the annual income you will receive throughout retirement.
Sounds rather scary, and if we are honest, it is. However, there are some circumstances in life which need drastic action to create a more secure future and this may be one of them.
It will not cost you a penny to find out if it is right for you.
Is it worth considering?
To be honest, if you are considering releasing benefits from your pension, there must be a reason for it, and so it is always worth considering. By discussing your requirements with an independent financial adviser, you should be able to make a decision.
Your adviser should assess your current situation, your personal circumstances, attitude to risk investment, and current pension are all factors which come into play.
 Do I need impartial advice?
Obtaining professional and impartial advice, when considering whether to release pension equity, is absolutely essential.
Can Pensionlite provide me with sound retirement advice?
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk for more information to release pension.
Tags: pension release advice, pension release UK, release pension
Posted in Pension Release
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Pension & Investor Lite, Pensionlite, Investorlite and ISAlite are the trading styles of Advicelite Ltd, which is Authorised and Regulated by The Financial Services Authority.
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