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Archive for the ‘Pension Release’ Category
Friday, April 1st, 2011
We understand that you might have been waiting to hit 55 for the last few years in order to qualify for pension release, or perhaps you are slightly older and have only just heard about it. Whatever the case, even though it seems like a risk-free way to potentially get your hands on thousands of pounds in cash, there are serious consequences to take on board.
 Why would I want to release my pension?
For those people that have not heard of pension release, it is the process where the government allows those aged over 55 years, to unlock up to 25% of their pension, giving them access to a tax free cash lump sum.
The reasons behind releasing your pension are pretty obvious – for money. However, what you are going to spend that money on is key as to whether you should consider pension release.
For example, if you have just heard about releasing your pension, and you have decided that you want to blow the cash on a party, or a huge shopping spree, or something similar, it is highly unlikely that your financial advisor would consider this a wise risk. However, if you are close to paying off your mortgage and would like to start retirement without any debts or loans, it could be a good move to unlock the cash that would enable you to do so.
There are many reasons why you might consider pension release, but it is absolutely essential that you talk through your ideas with an independent financial advisor.
Can Pensionlite help me release my pension?
Yes, of course we can. We are an independent financial advisory firm (IFA) directly authorised and regulated by the Financial Services Authority (FSA). We are a cut above the rest because not only will you receive advice and guidance from experienced financial advisors, but you will be talking to a pension specialist with unrivalled knowledge about the current marketplace.
I’ve heard that it is not a good idea to release my pension.
We won’t lie to you. Generally, we do not advise our client to release their pension because of the serious consequences involved.
By taking benefits early, you are reducing the size of your pension fund by up to 25% meaning that you will have a significantly lower income throughout retirement.
Of course no one is forcing you to take the whole 25% that is allowed, but even with a smaller percentage taken, it is highly unlikely that you will be able to make enough contributions to your pension for it to reach what it was originally.
Pension&Investor Lite 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 help on release my pension.
Tags: pension release, release my pension, release pension
Posted in Pension Release
Wednesday, March 30th, 2011
Did you know that once you reach the age of 55, you are entitled to release up to 25% of your pension fund as a tax free lump sum, in what is known as ‘pension release’? This does not mean you are taking early retirement or anything like that, as you would continue to work and contribute to your pension as normal.
Sounds great? But like all good things, there is a catch – a rather large catch.
 If you go through with pension release, you will almost certainly receive a lower income during your retirement, alongside losing out on benefits and guarantees written into your pension scheme.
Pension release is a serious financial decision which should never be taken lightly or decided upon in the heat of the moment. You need to seek advice from a qualified financial advisor to ensure that you are prepared for the drawbacks to releasing equity early.
What if I don’t need the lump sum at 55?
Although the government has set the minimum age for pension release at 55, you do not have to take it then. You are free to consider unlocking benefits from your fund at 55 and over – if you want to do it at all.
Why should I consider pension release?
Many people would love to get their hands on a tax free cash lump sum and may even dream about it, but what would you use it for? If there were no consequences and it was ‘free’ money, you would probably fulfil your dreams and splash out, but when there are serious drawbacks for your financial stability in the future, what to spend it on is an important aspect.
Pension release can be a good idea for those people wanting to pay off a mortgage, or want to obtain a large amount of money without using a loan or overdraft, or for people in severe financial difficulty. If you are considering releasing your pension, it is important enough to discuss it with a financial advisor.
Why don’t you want me to release my pension?
It’s not that we don’t want you release your pension if that is what you have decided upon, we just want to ensure that you are fully prepared for the consequences to pension release.
For some people, unlocking their pension is the only realistic option available to them and changes their life – but for the majority of people it is best avoided. We don’t want to scare you away from releasing your pension, just talk you through your best plan of action.
How can Pensionlite help me?
Pension&Investor Lite 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 advice about pension release.
Tags: pension release, release my pension, release pension
Posted in Pension Release, Pension Release for over 55's
Sunday, February 20th, 2011
The short answer to this popular question is that you might need the money, or even just want the money. The long answer involves a lot of consideration of future consequences and a possible loss of benefits.
It is important that you ask yourself: ‘will it harm me in the future if I release my pension?’ If you’re unsure of the answer, it is highly recommended that you contact an independent financial advisory firm for some impartial and reliable advice.
 Pension release is where up to 25% tax free cash from your pension fund can be released once you are aged 55 or over. The idea behind it is to release equity from your investment giving you the opportunity to obtain a large amount of cash.
There are bonuses to pension release, most of them obvious, such as the lump sum you would receive, but there are serious disadvantages that you need to consider.
Pensionlite are an independent financial advisory firm regulated by the Financial Services Authority, and as we specialise in retirement and pension, we think you should give us the chance to talk you through releasing your pension.
We offer unbiased, impartial and independent advice and we always consider our customers first, as each client’s circumstances as completely unique. We wouldn’t be doing our job properly if we didn’t pay attention to our client’s financial and personal situation – so don’t worry about ‘off the shelf’ advice.
If you are in a financially difficult situation and have been wondering to yourself, ‘Can I release my pension?’ the answer is of course yes. However, we would never recommend releasing the full 25% allowance on a whim and then struggling through retirement on a low income.
 As you don’t have to physically retire to qualify for pension release, you can continue working for another 10 years or so and carry on contributing to your pension fund. This will top up your pension but it is very unlikely that it will be back to the point before you released any cash.
Are there any other consequences if I release my pension?
Yes. As we said, this is major financial decision and should not be taken lightly. It is extremely important that you are fully aware of all the advantages and disadvantages before you commit to any life changing decisions.
 By releasing funds earlier you could lose benefits or minimum payment guarantees offered by your pension scheme, however this will depend on the terms and conditions, so every case is different. Basically, unless you have very good reason, it is usually not advised to release equity from your fund. However, there are certain situations where it is a viable option.
To discuss your options with a professional, contact Pensionlite today. One of our fully qualified financial advisors will arrange to meet with you, review your current pension plan and discuss how much tax-free cash you could be eligible for, completely free of charge. Remember, seeking impartial financial advice is key to achieving a secure retirement.
Contact Pensionlite now on 01952 279 379
Visit our website www.pensionlite.co.uk now to get the pension release advice that you need!
Tags: can I release my pension, need pension release advice, Why Would I Want To Release My Pension
Posted in Pension Release, Pension Release for over 55's
Thursday, February 17th, 2011
 Many people are unaware of pension release until later in life, and when they do find out that they’re eligible for a 25% tax-free lump sum from your pension at the age of 55, it’s something that a lot of people grab with both hands. Although pension release has no constraints other than your age and the percentage of equity you are allowed to release, it is still quite a risky idea. Perhaps you are aged over 55 and have suddenly hit a financial stumbling block – would a cash injection be ideal for you? The chances are, the answer is yes, but it isn’t always the best idea.
 Pension release allows the pension holder to release up to 25% of their fund, whilst continuing in employment until they decide to retire, allowing them to continue to contribute to their pension. This might sound like a dream situation, but it can end in a nightmare if you haven’t seriously considered your options.
Why do I need Independent Financial Advice?
may seem like a relatively straight forward idea, but pension release has some drawbacks. If you have considered all the disadvantages and you have taken the time to consider pension release, it might be the perfect option for you, but too many people rush into this decision.
 Discussing pension release with an independent financial adviser such as Pensionlite is highly recommended as taking benefits from your pension now will reduce the amount you receive once you retire. As we all know, a pension is a top priority once you are nearing retirement, so it is essential that you are fully aware of what is entailed.
Drawbacks? Yes. Ideal for everyone? No. Perfect for some people? Yes.
Certain circumstances and certain types of people are ideally suited to pension release, but it should not be considered as a ‘get rich quick’ scheme. Some pension schemes could include a loss of guarantees, benefits, discretionary increases and annuity rates could vary dramatically.
Every individual is exactly that, an individual, so everyone’s situation is completely unique, and no one situation can be compared with another, which is why is it necessary to seek independent financial advice. Pensionlite are an IFA firm regulated by the Financial Services Authority, but more importantly, we are experts in pensions and retirement.
For some, pension release has been the gift they have been waiting for as freeing up capital may help in some situations. If you do decided upon pension release at 55 or over, you can still contribute to your pension and help rebuild it, but you should not expect your benefits to be the same as before you released cash. When you do continue your contributions, they will still benefit from tax relief and will be invested along with the remaining balance of your fund.
Pension release is major decision and could be an important step on your journey to retirement, but don’t make the mistake of jumping at the chance for a lump sum. Pensionlite can provide you with the information and advice you need to make such a big decision a success.
Pension&Investor Lite 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.
Pension & Investor Lite, is an Independent Financial Adviser firm, Directly Authorised and Regulated by the Financial Services Authority, specialising in Pensions & Investment.
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.
The Next Question On Your Mind Is Bound To Be Around Cost?
Don’t worry, Pensionlite does not charge to investigate your current pension plan or provide you with pension release advice. When you decide if you are going to proceed, your adviser will fully inform you of any fees involved.
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 Pensionlite:-
Telephone 01952 279 379
E mail enquiries@pensionlite.co.uk
Visit our web site www.pensionlite.co.uk
Tags: need pension advice, need pension release help, pension release
Posted in Pension Release, Pension Release for over 55's
Wednesday, February 16th, 2011
If this is you, don’t worry, thousands of people around the UK are in a similar situation to you. Once you reach the age of 55, you are entitled to release some of the equity from your pension fund, up to 25% in fact. However – and this is a big but –there are some serious drawbacks which you need to consider.
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It is extremely important that you seek pension release advice from a professional before even looking at releasing your pension. What If I’m Older?
Again, don’t panic. The government set the age for pension release at 55, but no one is forcing you to take anything from your pension right then. If you want to wait a few years until the time is right, or decide it’s not for you at all, that’s absolutely fine.
It cannot be stressed what a life changing decision pension release is, and it should never be taken lightly. Expert pension release advice is strongly advised for your own benefit.
Hold Your Horses!
So you’ve established that a tax free cash lump sum now would be perfect and you will live with the slightly lower income throughout retirement. Sounds fantastic but if we’re honest, it is usually a bad idea.
You need to consider every possible option before thinking about pension release. Although the releasing equity is a viable option for some individuals, it’s most certainly not generally recommended.
Ok, I’m Listening – What Are The Drawbacks?
We don’t want to scare you off if you feel that this is the only realistic option available to you, but we don’t want to encourage you if you want the cash to blow it on a party. There are some very serious disadvantages that you need to think about:
• lower income in the future
• loss of benefits
• loss of guarantees
• change in annuity rates
• discretionary increases
You might think that you can cope with the loss of some luxuries, and perhaps you don’t need such a high income during retirement anyway. This is possible, but you need to talk through your individual circumstances with a professional.
Seeking pension release advice is recommended in every single case, no matter how confident you are about the decision.
Our job is not to push you in any direction when it comes to pension release, but simply ensure that you are making a fully informed decision.
Pension&Investor Lite 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.
Pension & Investor Lite, is an Independent Financial Adviser firm, Directly Authorised and Regulated by the Financial Services Authority, specialising in Pensions & Investment.
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.
The Next Question On Your Mind Is Bound To Be Around Cost?
Don’t worry, Pensionlite does not charge to investigate your current pension plan or provide you with pension release advice. When you decide if you are going to proceed, your adviser will fully inform you of any fees involved.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service. Get the Pension Release Advice that you need
To contact Pensionlite:-
Telephone 01952 279 379
E mail enquiries@pensionlite.co.uk
Visit our web site www.pensionlite.co.uk
Tags: need a pension specialist, need to transfer your pension, pension plan advice, pension release advice
Posted in Pension Release
Friday, January 14th, 2011
If you are considering pension release your top priority should be to seek specialist pension advice from a professional financial adviser.
Pensionlite are an IFA firm which is regulated by the Financial Services Authority (FSA) and have specialist pension and retirement expertise which can help you make an informed decision about what to do with your pension fund and whether pension release is the right action for you to take.
Many people are pleased when they discover that they can receive a tax free lump sum of up to 25% of their pension fund when they reach the age of 55. After releasing a percentage of their pension they can then continue to work and make contributions, meaning the pension fund can be grown while the pension holder uses the released equity for anything they desire.
However, there are serious considerations to take into account before opting for pension release, which is why seeking specialist advice from an independent financial adviser like Pensionlite is crucial.
Releasing pension equity early will reduce the income you will draw from your pension once you enter into retirement so any decision regarding pension release must be discussed thoroughly with your adviser. A pension specialist at Pensionlite will review your pension in detail, discuss your financial circumstances and help you to make the right decision for you.
Each pension holder’s circumstances are different and therefore it is imperative to spare no detail when discussing your pension and retirement plans with your Pensionlite adviser. You must realise that the early release of pension cash will significantly reduce the pension fund which you will use to provide an income.
Nevertheless, there are times when pension release can have a decidedly positive impact on the pension holder’s life and it is always worth ensuring you have a clear idea of all options available to you. Discussing your case with a Pensionlite adviser will allow you to benefit from their in depth knowledge.
If you are over 55 you can release as little or large a portion of the 25% tax free lump sum as is needed. Any balance can be taken at a later date. It is simply a case of weighing up your options using the expert advice and guidance which Pensionlite will provide.
Many enjoy having the freed up capital from pension release and find this offsets the reduction of their pension fund. Someone who decides on pension release when they become eligible at 55 can still continue to build a substantial pension fund by making contributions while they continue to work. Additional contributions benefit from tax relief and can be invested together with the balance of your pension fund prior to pension release.
Pensionlite will fully explain all the UK pension regulations and, should you decide that pension release is right for you, will oversee and manage the pension release process for you.
Pension release is a major step to take, but with the assistance of an independent financial adviser like Pensionlite you will be provided with clear and impartial advice which will highlight all available options open to you.
Tags: pension release, pension release advice, pensions
Posted in Pension Release
Tuesday, November 30th, 2010
Are you aware that once you reach the age of 55, you are entitled to a lump sum of up to 25% from your pension? The idea behind pension release is that you can release some of the capital but continue working, allowing your pension to continue to grow.
Taking pension benefits will obviously reduce the income from your pension once you retire, but it is often a viable option for some people. If you’re considering this option it is highly advisable to contact a qualified independent financial adviser to discuss what is available to you.
Should I release my pension?
Pension release is a major financial decision and can either impact positively or negatively on your retirement – it is important that you discuss your thoughts with an expert. This option can be dangerous in some circumstances, for example if you’re planning to purchase an annuity, taking a tax free lump sum now, will dramatically reduce the fund available.
However, releasing some of your pension now is not always a bad thing and it can be financially sensible dependent on your situation. There are no rules about when you can release capital (as long as you are over 55), or how much of the 25% allowance you are allowed to take, so why not discuss your options with a pension specialist at Pensionlite.
How could releasing my pension impact on my life and retirement?
The idea of pension release is not to actually retire but to just release some of the money you have invested into your pension, and so you can continue working and building up your pension fund.
 These additional payments will still benefit from tax relief and will be combined with your previous payments to provide you with your pension benefits upon retirement.
Although it’s possible that you may continue working for another 10 years after releasing your pension, it will still almost certainly lower that it would have been without you receiving the lump sum.
It is also possible that if you receive any state benefits, these could be affected, but this would depend on what benefits you receive, and just how much of the 25% allowance you wish to release.
Your local benefits advisers should be able to advise you on if your benefits entitlement will be affected.
Overall, it is unlikely that unless you have good reason to release cash from your pension, it is probably not worth it.
It is extremely important that you discuss such an important financial decision with an independent financial adviser. Here at Pensionlite, we are an IFA firm regulated by the financial services authority, but we are also pension and retirement specialists.
You might be wondering how much we charge but you can potentially release your pension free of charge.
At Pensionlite we will consider your personal circumstances and help you decide whether it would be a sound decision to release your pension, keep you informed of all the UK regulations, and arrange the pension release process.
If there are other options for you to consider, we will ensure that you are fully informed, and help you find an alternative route and avoid withdrawing from your investment.
Tags: lite, pension, pensions, release, retire, retirement, review, specialist
Posted in Pension Release
Monday, November 29th, 2010
Many people have never heard of pension release and are genuinely surprised to learn that it is possible to get a tax free sum of cash from their pension fund. Needless to say, as with any decision relating to your pension, choosing to release pension equity is a large step to take and requires careful consideration, a focussed assessment of your financial circumstances and the helpful guidance of an impartial independent financial adviser.
In some circumstances the opportunity to obtain equity from a pension release can help people who find themselves in financial difficulty and need some extra cash to overcome short term financial difficulties.
During the current harsh economic conditions, the continuing aftershocks of the recession, many have been left with a poor credit rating and nowhere to turn for financial assistance. It is particularly sad when people who are approaching retirement find themselves in dire need of money. After years of hard work the elderly deserve a relaxing and worry free life without financial concerns, but unfortunately this is not always the case.
If you are interested in the possibility of obtaining a tax free cash sum through pension release do your homework, look through a variety of brochures and conduct some research on the internet, gain a wide knowledge of different pension release plans and then organise a meeting with an independent pensions adviser who will take you through the available pension options and give a clear outline of the most appropriate action for you to take.
Pension schemes are quite complicated, so it is imperative for those considering pension release to seek the advice of a professional pensions adviser. The specialist will check through the details of your existing pension plan and your current financial circumstances, before giving advice on whether pension release is suitable for your needs and, indeed, whether it is possible with your current pension plan.
Often a transfer from your current pension scheme to another that permits the early release of equity is necessary, which can take some time, but the pensions adviser will assist you in choosing the right pension provider and scheme to transfer to, should you decide pension release is for you.
Pension release schemes also require the pension holder to be over the age of 55. However, if you are the correct age, have weighed up your options using the guidance of a pensions adviser, and still feel pension release will improve your current financial situation, then the pensions adviser will be able to organise the pension release plan for you, including any necessary pension transfers.
Pension release certainly isn’t for everyone and pension holders must be aware that releasing equity from their pension early will reduce the final pay out they will receive from their pension fund. However, it is still possible to contribute to the pension plan after the pension release has taken place, and many see the benefit of receiving a tax free cash sum to help with their present financial concerns offsets the overall reduction of the final pension fund they will receive upon reaching retirement age.
Tags: advice, lite, pension, pensions, release, retirement, review, specialist, uk
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.
Registered office Summit House, Wanstead, London E11 2AA. Registration number 05217472
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