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Counting your assets whilst you can

Counting your assets whilst you can

There is no doubt that, under the current economic climate, folk are increasingly finding it hard to make ends meet. With wage freezes (which is effectively a pay cut!) rising prices (especially fuel duty) the family’s budget is under increasing pressure.

And, on top of that, there are the unexpected bills that come in. Things like car repairs or even an unexpected tax bill.

With all these costs going up and the possibility of income going down what can you do? Like any good accountant would probably suggest you need to analyse your expenditure whilst maximising your revenues.

Tighten your belt (Analyse your expenditure)

You could always look at reducing your expenditure. This could look at exactly how you spend your money and on what. So, for example, you could shop at a cheaper supermarket. You could walk to the shops instead of taking the car (And be greener and fitter in the process!)

In short you could take a good long hard look at the money you’re spending and see if it’s really necessary or if there are cheaper alternatives.

Maximising your revenues

You might want to go to your boss and demand a pay rise! However, in reality this isn’t going to wash! You could think of getting a different or a second job. But, again, in reality for most this is not an option. So what could you do?

Sell, sell, sell!

You may also want to consider liquefying your assets. This process could look at all the assets you have and the amount of money you could raise.

You may have a drawer full of old jewellery that you’re never going to wear or a collection of broken jewellery. The good news is that (at the time of writing) prices for precious metals are at a relatively high rate. And selling them couldn’t be easier! The Internet is full of sites that will offer great rates for metals.

You could look and see if there are any stocks and shares that you have. Again there are lots of sites on the Internet that can sell your shares for you.

You could go ebay crazy! Get everything together that you no longer need and try to sell them via ebay. The process is relatively simple and could offer a good return.

Your pension could be the answer!

You may look at your pension pot as a source of funds. Getting at those funds can be difficult. It can be dependant on things like your age, state of health and the type of pension you hold. It certainly isn’t as easy as getting money out of the bank!

However, the really great news is that you’re reading this from a source that could help you! All you have to do is fill out the form at the top of the page and click ‘send’. You details will then be passed onto an appropriate expert who will then guide you through the process. Simple. Do what most people do and fill in the form today. It might just be your first step towards withdrawing your funds.

Alternatively ….

You could look down the back of the sofa! Whilst this may not offer a great return you will almost certainly find wealth that you didn’t know you had!

Martin Smith
written by Martin Smith

Is it possible to sell a pension?

Is it possible to sell a pension?

You might think that, just like any other financial asset, you can sell your pension. After all it is just a financial vehicle at the end of the day and you might think that you’d be able to sell your pension.

However, at the time of writing, it is just not possible to effectively sell your pension.

If you can’t sell a pension what can you do?

Thankfully there are alternatives to selling a pension. At the end of the day you just want to turn your pension fund into cash right? If that is your goal then there are a number of ways that you might be able to achieve that target.

Exactly how you can achieve this may depend on your circumstances. Factors like your age, state of health and how your pension(s) are invested may all be factors.

However, one way might be by pension release. This is where you could be able to effectively cash in your pension and turn it into hard cash.

Another way might be by a pension loan. Using this methodology you get a loan against your pension fund.

You can begin your journey by filling in the form at the top of this page.

Why are people looking to cash in their pension fund?

You might have got a statement from your pension provider telling you that you have x thousands of pounds in your pension. You might have also been told that this fund is projected to grow to y thousands of pounds and as such you’ll get z thousands of pounds per year when you retire.

Obviously the exact amounts of x, y and z vary tremendously from person to person.

Normally the value of x and y – your pension funds value today and the expected value when you finally retire – can be in the tens or even hundreds of thousands of pounds.

However, the value of z – the amount you’re projected to receive in pension payments per year when you do retire – is, often, ridiculously low.

It is possibly for this reason that people are looking to cash in their pensions. After all what is a small amount per month worth when you retire compared to having tens or hundreds of thousands of pounds in your account right now?

What are people using the money for?

Here’s the real beauty of turning your pension fund into cash right now is that it is your money (Once you’ve got it) and as such you can use it as you like!

You might have done your sums and discovered that, if you use your pension fund to pay off your mortgage, you’ll be actually saving money in the long term.

You might use the funds to change your career path. Re-train into an occupation that will pay you more in the long term.

You might have looked at the overall performance of your pension fund and thought “I could do better myself”. In which case you’ll be drawing on your funds in order to get a better return.

Or, in the worse case scenario, you might be starring financial ruin in the face and your only source of funds is your pension pot.

How long does the process take?

Sadly getting the cash out of your pension fund isn’t as easy as cashing it in at an ATM. It takes anything from 3 to 6 months before you can actually have your pension fund as cash in your account.

The good news is that you can make your initial, no obligation enquiry, by filling out the form at the top of the page. It could just be your first step in the process.

Are there any downsides?

As with any financial transactions there are downsides. Firstly, as if to state the obvious, if you do cash in your pension early then there will be less for you to retire on, once you get to retirement age.

Secondly, depending on the liquidation method you use to access your pension fund, you might be getting a call from Her Majesty’s Revenue and Customs (HMRC). They may require you to pay tax on the amount you’ve drawn from your pension.

What can you do next?

Perhaps your first step is to fill in the form at the top of the page.

You might also wish to consider talking to an Independent Financial Advisor. These people can help you access other funds that, perhaps, you didn’t know you had.

 

 

Martin Smith
written by Martin Smith

Can a Pension Loan give access to the funds in your pension?

Can a Pension Loan give access to the funds in your pension?

For some people a pension loan can be the ideal way to release the funds from your pension. Generally, to qualify for a pension loan, you don’t have to ‘jump through the hoops’ the same way you do as for a traditional loan.

This means that there might be no credit checks. No invasive questions into your current financial situation.

However, there might be other ways to release the funds from your pension.

It might be possible to gain access to the funds in your pension in other ways. One methodology some people have used to gain access to their pension is via pension release. Some may say that pension release is only possible if you’re over the age of 55. However, for many this is not the case.

For example: if you’re under 55 years of age and have a pension fund in excess of £50,000 it is very possible that you can release as much as 85% of the funds in your pension straight into your bank account. Money that you can spend in any way you like.

Find out if you qualify. Do what the majority of people who read this site do simply fill in the form at the top of the page. It could be the first step in your journey to getting access to the funds that you need.

What about the tax?

Certainly by looking to release the funds in your pension early then it is possible that the HMRC might be interested in your actions. It is not unknown for the HMRC to send you a hefty tax bill for releasing your pension funds early. And what could be more depressing than thinking you’ve got yourself a nice little nest egg only for it to be snatched away from you?

But there is some good news. By utilizing the right pension release programme it is possible that you can keep the majority of the funds to yourself. Certainly this is true if your pension fund is over £50,000. If this is you then complete the form at the top of the page – this will start your journey without obligation.

Why are people cashing in their pension?

The reasons people are keen to get at their pension funds early are individual as the people who apply for them.

For some people they are facing financial ruin right now – things like job loss, credit card bills, or even hefty tax bills that they cannot afford. Having a nice pension pot might be great for when they retire but if they can’t afford to live right now then what is the point?

Some are possibly watching the performance of their pensions and think “I could do better myself”. In this instance they are, perhaps, taking the money from their pensions and investing it in a vehicle that they think will out perform their existing pension fund.

Others might be watching what is happening in the financial sector. The banks losing money seemingly hand over fist. They might be thinking that their pension fund might be caught up in the process and, when it comes to withdrawing it, the funds simply won’t be there.

Whilst others are probably looking at the performance of the annuity market and consider that the traditional pension market simply isn’t producing results.

Whatever the reasons many people, just like you, are looking at withdrawing the funds from their pension.

What might happen if I cash in my pension early?

As mentioned above the HMRC might be interested in your actions. When you do come to retire you might find that you don’t have enough money to live on because you took your money out early. Certainly it will be a good idea to consult an Independent Financial Adviser (IFA) these people maybe able to help you access funds that you previously thought were unavailable.

Certainly if you do have pension funds available AND access them in the most prudent way then you’ll have the funds in your bank to use as you wish.

What can I spend the money on?

The short answer is anything you like! It will be your money to use as you wish.

How long does the process of gaining access to the funds take?

Once you’ve agreed to the process and returned all the relevant paperwork then it can take anything from between 3 and 6 months for the final payment to reach you. Why does it take so long? There are various legal steps that need to be taken before you can get your money that’s why it can take so long.

Certainly, if speed of access to your funds is important to you, then you can take your first steps right now by filling in the form at the top of the page. That way you can begin the process.

Martin Smith
written by Martin Smith

Just What Is Pension Unlocking?

Just what is Pension Unlocking?

You might find that pension unlocking is a method of taking (in some cases) a tax-free lump sum in cash from your pension before you retire. It could provide you with a substantial lump sum. A lump sum that you’ll be free to spend however you choose.

You must be warned however, as pension unlocking could have a serious adverse impact on your income when you retire. Pension unlocking may not suitable for some people. This will almost certainly depend on your own particular circumstances.

You can begin your search for a source of potential pension unlocking by filling out the form at the top of this page.

Pension unlocking – what is it?

Are there any alternatives to pension unlocking?

From my pension fund how much can I unlock?

What are the potential implications for my retirement income?

Is it possible that pension unlocking is right for you?

Are there any potential implications against my state pension if I unlock?

What are the likely questions I need to ask?

What are the sources for further information?

Pension unlocking – what is it?

Unlocking your pension can be seen as a form of pension release. This basically means drawing the equity, in the form of cash, from your pension fund.

Exactly how this is achieved varies according to your own particular circumstances. For example: if you’re over 55 you maybe able to take 25% of your pension fund as a tax free lump sum. This is sometimes known as a pension commencement lump sum. It could be possible to do this without having to actually retire. You could then use this money to buy an annuity.

If you’re under 55 it may still be possible to withdraw the funds from your pension without having to take tax penalties. For example if you’re under 55 with a pension fund of £50,000 + it maybe possible for you to access as much as 85% of your fund. To discover if this applies to you fill out the form at the top of this page.

What is certainly true is that withdrawing your funds from your pension early will almost certainly reduce the amount of money available to you when you retire. However, if you are considering withdrawing the funds because you think that you’ve found a better investment vehicle then this should be of little concern to you.

Are there any alternatives to pension unlocking?

For many unlocking their pension is considered because they need the money. As such alternatives to funding could lie in vehicles such as:

Remortgaging their home

Selling other assets

Loan or debt consolidation

Family financial assistance

Selling business assets

However, for some people their pension fund is the only capital they have to raise funds against.

But it is not entirely all doom and gloom. Some people might have noticed that their pension fund is performing quite poorly. Further, because of the relatively poor performance of the annuity market, that their retirement income will be actually quite low. This, added to the financial instability around the globe, has lead them to think that they could make their pension fund work harder for them in other financial investments. For these people unlocking their pension fund is a very shrewd move.

From my pension fund how much can I unlock?

The short answer to this is that it depends. It depends on factors such as your age. Your general state of health. Your own particular circumstances. If you’re over 55 then getting as much as 25% from your pension fund can be relatively easy.

However, if you’re under 55 with a pension fund in excess of £50,000 it is possible that you could realise a full 85% of your total pension fund. To find out if you qualify simply fill in the form at the top of the page.

If you’re under 55 with a pension below £50,000 then it still might be possible to release some of your funds. Fill out the form at the top of the page to find out more.

What are the potential implications for my retirement income?

Obviously if you withdraw funds from your pension early you will almost certainly be reducing the amount of money you’ll receive when you do retire. For example: if you withdraw funds 15 years early you’ll not only getting a smaller income but you’ll also be losing out on the growth that fund would have accrued over those 15 years.

Certainly the Financial Services Authority (FSA) has warned that withdrawing funds from your pension early could have a detrimental effect on your retirement income.

Is it possible that pension unlocking is right for you?

The short answer is that it depends. You might have debt collectors knocking at your door. Your business might have a short-term cash flow problem that you cannot solve in any other way. You might have a credit card bill, with crippling charges, that you simply cannot clear. Basically an urgent need for funds. Then pension unlocking might be for you.

One thing you do have to bear in mind is that pension unlocking can take some considerable time. Typically this can be anything from 3 to 6 months. If you are considering unlocking your pension it might be a good idea to begin the process sooner rather than later. Thankfully you can begin the process by filling in the form at the top of the page. After all being forewarned is being forearmed.

Please do remember that releasing cash from your pension may seem like an extremely tempting option. But, before doing so, do think long and hard about it. It can have an impact on your long term financial future. If you do have any concerns you should definitely consider talking to an independent financial advisor.

Are there any potential implications against my state pension if I unlock?

If you do decide that releasing cash from your pension is actually for you then you can still continue to work. You don’t have to retire to release cash from your pension.

At the time of writing the value of your state pension should remain unaffected should you release funds from your pension early.

If, however, you are currently receiving state benefits – many of which are means tested. Then gaining access to your fund may affect the benefits you’re entitled to. Hence jeopardising the benefits you receive.

What are the likely questions I need to ask?

There are a range of questions you need to ask yourself before unlocking your pension. Some of which can be answered here. Others can only be answered by yourself.

The FSA identified four key questions:

How much cash do I actually need now?

Would I be better off borrowing the money?

Should I consider selling or cashing other investments assets?

If I cash in my pension funds now will I have enough to live on in retirement?

Other issues you might wish to consider include:

Does your pension have a guaranteed annuity at retirement? And, if so, how much would it be?

Does your pension have a provision for ill health or death benefits?

What are the likely penalties you might incur by unlocking your pension?

What is the possible impact on any state benefits you might be receiving?

Other issues you might wish to consider if you do decide to unlock your pension include:

What are the likely fees and charges associated with unlocking your pension?

Will the HMRC take an interest in any money you draw from your pension fund?

Thankfully these last two questions can be answered here. At the time of writing if your pension fund is over £50,000 you can access up to 90% of your pension fund and get it paid directly into your account. There is also a small administration fee payable and the remaining 10% is taken as charges. But the really good news is that, currently, whilst the HMRC are aware of the withdrawal and they do not place a tax on the process.

It must be noted that you should consider your options very carefully before considering cashing your pension in early. By unlocking your pension your retirement income will probably be considerably less than you could expect if you waited until your retirement date.

What are the sources for further information?

There are alternatives to pension unlocking. You may wish to access advice from the following sources:

Citizens Advice Bureaux

Advice UK

Citizens Advice Scotland

Consumer Credit Counselling Service

Money Advice Scotland

National Debt line

Financial Services Authority

Directgov

Martin Smith
written by Martin Smith

Pension Loans, Cash in Pension Videos

Pension Loans and Cash In Pension

The market for Pension Loans can be quite tricky. To help you 2 videos have been created. The first focuses on how you can unlock your pension funds. It might appear that, at first glance, any money in a pension is locked away. Only to be accessed once you’ve come of age or you’re in ill health. However, this might not necessarily be the case.

Watch the video here:

http://www.youtube.com/watch?v=1ojL2T1Rldc

As you’ll learn this can unlock your frozen pension. Giving you access to funds that you might have considered locked away.

Cash in Pension

The second video in the series gives you an idea on how you can get cash from your pension. Again it is entirely possible to get cash from your pension. You just have to know the right steps to take. You can begin your journey by filling in the form or by watching the video and then fill in the form.

Watch the video here:

http://www.youtube.com/watch?v=ixxHs0m5ENU&feature=relmfu

Which ever route you take be it pension loan, pension release or cash from your pension you can begin your search by filling in the form.

Martin Smith
written by Martin Smith

Unlock your pension

Unlocking your pension

You may consider that the funds within your pension are completely locked in until the age you retire. You may think that your pension fund is completely frozen. Locked away like Fort Knox.

Well this is, in most cases, just not true. Certainly factors such as your age and general health could mean that you are capable of unlocking your pension fund.

What can you do?

But what can you do if you’re under 55 years of age and your general health is very good. What can you do then? Are there ways to access the funds in your pension?

The really great news is that, in most cases, the answer is YES! You can find out if you qualify for early pension release by filling in the form at the top of this page. By completing the form you’ll be one step towards getting access to the cash in your pension.

Why should you do this?

The answer is quite simple. It will give you access to valuable information. Information that you can use to know just how much cash you can get from your pension. In some cases this can be as much as up to 90% of your entire pension fund. It all depends on your own individual circumstances.

By filling in the form you’ll get a FREE no obligation telephone call from a pension expert. They will explore your pension fund release options with you. They’ll explain in detail just how you can get cash from your pension.

Plus they use no ‘pushy’ sales techniques. No constant contacting you trying to force you into something you may not need or require.

Plus your data will be kept totally safe and will NEVER be shared with organisations or people involved in ‘spam’ type practices.

Do what the majority of people do. Fill in the form. At least then you’ll be one step closer to knowing how much cash you can get from your pension. And, after all, as Sir Francis Bacon said “Knowledge is power”. Arm yourself with the power and complete the form.

If you do unlock your pension fund what can you use the money for?

Unlike traditional loans you can use the cash in your pension in any way you like! This could be to:

· Pay off crippling credit cards. Very often the interest rate applied to credit cards can be very large when compared to a traditional loan. You could use your released pension fund to pay this off.

· To pay off your mortgage. You may take the money in your pension fund to pay off your mortgage.

· To solve a cash flow problem. You might be self-employed and your business might be facing closure due to a cash flow problem. This issue could be solved by releasing the cash in your pension.

· To invest in a higher performing financial vehicle. For some people they look at the performance of their pension fund and think ‘I could do better than that’. So they withdraw their funds and invest it in a higher performing way.

· To pay your tax bill. You may have the HMRC knocking at your door demanding you pay a bill that you just haven’t expected. Your cash in your pension could be used to clear this debt.

The HMRC – that’s a good point won’t they want a slice of my pension fund?

They just might. But again this depends on your own personal circumstances and just how you access the funds within your pension. However, by completing the form at the top of the page you’ll be put into contact with, probably, the best group of people. People who know the ‘ins and outs’ of the HMRC and will provide you with, perhaps, the best advice on how to make sure you keep as much of your money as possible.

Are there any risks involved?

Just like any financial transaction or investment there are numerous risks involved in releasing the cash from your pension. If you’re in any doubt about any of these risks we would strongly advise you to consult with an Independent Financial Advisor (IFA). You may be able to find one by following this link.

Further, what is certainly true, as the Financial Services Authority (FSA) were keen to point out, that should you withdraw your pension funds early then, when you do retire, you’ll have less money to live off. A counter to that argument, however, could be that if you’re facing financial ruin now what good is a secure financial future many years away?

Or, should you require the money to ensure the growth of your own business or to invest in something that you think will out perform your current pension, then this is simply not the case. You would be using your money to ensure your own future financial security in your own way.

How long does the process take?

Getting the cash in your pension out of your pension fund is not easy. Certainly it is not as easy as going to the cash point! Pension fund managers are, perhaps, not as quick as they might be in releasing your funds. Which is, sort of, curious as they are not slow at collecting your money!

It all really depends on how your pension fund has been invested and who has your fund (or funds) in question. Typically it can take anything from as short as 4 weeks or up to 12 weeks plus to gain access to the money in your pension. This timing is applied from when you actually approach your fund manager for your investment.

You can, however, begin the process today by completing the form at the top of this page.

Can you continue to pay into your pension when you’ve released the funds?

The really short answer to that question is that it depends. There are a number of factors that will determine if you can continue paying into your pension once you have released the funds. You should seek to consult with your pension provider as to the exact answer to this particular question.

What you should do next?

It is simply not possible to know just how much of your pension fund (or funds) can be released or unlocked without further investigation. You can begin your own investigation into your own particular circumstances by completing the form at the top of the page. It might just be the first step towards gaining access to the funds that you need.

 

Martin Smith
written by Martin Smith

Pension Lump Sum

Pension Lump Sum

What exactly is a pension lump sum?

A pension lump sum is a way of getting cash from your pension in a single payment. There are numerous criteria that effect exactly how much your pension lump sum can be. Some of these factors include:

· Your age – as a general rule you have to be over 55

· Your personal health circumstances. If you are in poor health you may be able to access your cash more easily than if you are in good health.

· The total amount of money in your pension fund

· Latest HMRC treasury rules

Unless you are an expert in personal pensions you should consider getting professional advice on the options available to you. You may be able to get this advice for free from many institutions. More information on independent advice can be found at the Financial Services Authority (FSA).

Whilst for some the pension lump sum can be sufficient for their needs others may require a larger pension lump sum. For some this can be very difficult to achieve. The pension fund managers may take a very dim view of you drawing funds from your pension. Indeed some say that it cannot be achieved without the possibilities of incurring sky-high charges and attracting an enormous tax liability.

Is there another way of getting cash from your pension?

The real truth of the matter is that there are tried and tested methodologies in the market place that can enable you to draw up to a full 90% of your pension as a lump sum. Whilst every case is almost unique it is beyond the scope of this article to explain the full process in detail. However, by completing the form at the top of the page you can begin the process of exploring just how much of your pension can be drawn as a pension lump sum.

Some of the highlights of this methodology is that there are NO age restrictions. There are NO credit checks. The process is fully HMRC compliant. It is, quite probably, one of the most tax efficient and most effective way to get cash from your pension. Find out more by filling in the form.

What are the risks?

There are, without doubt, numerous risks associated with drawing a lump sum from your pension. Possibly the most obvious being that the more you draw from your pension the less will be available to pay you when you retire.

Further, if you are not very careful, you can be paying tax upon the lump sum that you draw from your pension. By completing the form you can begin to explore other options.

Whilst the above is all very true it does not go on to address any financial hardships that you may be experiencing right now. With job losses being announced what seems to be almost daily. With banks appearing to making getting a loan even more difficult. With recessionary pressures seemingly building within the economy. With house re-possessions probably on the increase. Then, for some, drawing a pension lump sum can be the only source of funding. After all isn’t it better to entire retirement debt free?

What can you use the money for?

The cash in your pension as a lump sum can be put to any purpose you desire. For example you may have been looking at your pension and thought “I could make that money work harder”. You may have your own financial vehicle that you want to invest your money into. Then drawing your lump sum you can do so.

You might have a credit card bill that you cannot pay off. Then you can draw from your pension and clear your debts.

You might have the HMRC knocking at your door for a tax bill that you simply cannot pay. Then a pension lump sum can be yours.

You could use the lump sum to assist your child through University.

If you run a business where you have a cash flow problem then a pension lump sum could just be the lifeline you require. The really great news here is that once this financial hurdle has been over come you could then re-invest back into your pension.

This can be one of the real keys behind drawing a lump sum from your pension is that you will not be questioned on why you want the money. Unlike a bank loan where you may have to jump through several ‘hoops’ no such questions may be asked about your pension lump sum.

Beware the ‘Nay-Sayers’

There is absolutely no doubt in the fact that if you draw money from your pension early then there will be less money left in your pension to pay for your retirement. This is a fact.

However, it is advisable to take a look at the vested interests of those you consult. A pension funds manager might strongly advise you that withdrawing your funds is not in your best interest. But then they would wouldn’t they?

An Independent Financial Advisor or Accountant may take the view that it is not possible to draw a pension lump sum as cash in your pension. However, the market place form drawing cash from your pension is highly complex and they may, or may not, be in possession of all the facts and figures.

What is certainly true is that all these people have differing vested interests. They may not see the financial ‘tiger’ tip tapping at your door. They might not care that your house is about to be repossessed. A pension lump sum might just be the financial life-line that you’re looking for.

After all ….

When done and said all this is your money. You’ve saved this money – it just happens that the vehicle you’ve chosen is a pension fund. You’ve worked hard. You’ve probably paid your taxes on this investment. You should have your right to draw on these funds if you so wish. By completing the form at the top of the page you’ll be eligible for a FREE consultation. Surely being ‘forewarned is being forearmed’. Make sure your ‘armoury’ is as complete as possible. Complete the form today.

 

Martin Smith
written by Martin Smith

Pension Backed Loans

Pension Backed Loans

Just what is a Pension Backed Loan?

With turmoil in the financial markets. Seemingly the banks on the brink of financial disaster. Job cuts being announced virtually daily. EU countries in financial melt down. General doom and gloom. The prospect of securing a loan with this background can appear like an impossible dream. Thankfully there is a lifeline for those facing financial hardship. Today many people are applying for a pension loans or getting cash from your pension. For some it can be seen as a relatively quick and sometimes easy access to money. Folk are choosing a pension loans or a pension backed loan for a broad number of reasons. But, before we explore some of these reasons lets take a close look at what a pension backed loan really is.

Pension Backed Loan

In a way this is a kind of secured loan. But it does mean cash from your pension. For this reason it is sometimes easier to get approval for a pension loan than it is for a traditional loan. The reason being is that you can use your own pension as collateral against the loan. For many people they want to do this because it is the only collateral they have available to them. This makes the concept a very inviting one. Certainly, if you have a bad credit rating then a pension backed loan maybe your only option.

Also, pension backed loans, generally, have two options that traditional loans don’t give you. Firstly you may have the option of repaying the debt before the maturity date arrives. And secondly, you may have the option of letting the lending party take your future pension as the form of payment.

What are the benefits of a pension loan when compared to a traditional loan?

As mentioned above if you have a poor credit rating then getting a pension backed loan might be the best way to go as you might be better placed to get a loan than following the traditional route. However, if you have a great credit rating then using a pension loan could give you an extra flexibility. As you probably know the interest rates on an unsecured loan can be much higher than on a secured loan. Whilst the interest rates applied to a secured pension loan can be, in many cases, significantly lower. Plus the repayment periods for an unsecured loan can take a very long time compared to the fact that the repayment period of a pension loan can, in many cases, be far quicker.

A high interest rate. The scarcity of availability of unsecured loans. Hidden charges and miscellaneous costs means that a pension backed loan can be very attractive. However, please do be aware that your pension will be used as collateral against your loan. So you must make sure, before you apply for any loan, that you do your sums. Make sure that you’re completely happy with the amounts quoted. Make sure you’re happy with the commitment you’re making.

The really great news is that you can start your search by filling in the contact form at the top of this page. This will get your search started. You’ll be called back with a FREE no obligation, phone call where your options can be discussed. Do what the majority of folk do and complete the form.

Some pension loans companies can provide loans of up to 50% of your future pension payments. Further you may also be able to choose how much of your future pension payments that the lender takes away each month.

Are there benefits of securing a pension loan?

One of the first benefits of a secured pension loan is that of privacy. The reason being is that the ‘why’s and wherefores’ of the loan can be kept completely to yourself. That can be one of the main draws for this particular type of loan. Your personal reasons for taking out the loan will not be exposed. Although, for many people, there are generally, three reasons for taking out the loan in the first place. These include: needing the cash for a debt consolidation, paying the simplest of bills (noticeably sometimes this can be a bill from the HMRC) or to rid themselves of a mortgage payment.

A second, of the many, benefits of a pension backed loan is that they can be used to fund a business venture. Whatever business venture you’re considering: a franchise opportunity, a hair dressing business or a used car lot. A pension backed loan can provide the vital funding that you need to start your new business. With a little hard work, a good strategy, a willingness to succeed and an adequate sum of money from your pension you have the ability to create a very successful enterprise. Simply by using the pension loan as a starting capital for your business you could be highly successful. Cash in your pension can be used in this way.

The third of the many benefits of a pension loan is that you can use them to clear your credit card debts. Debts on credit cards can be notoriously expensive and, let’s face it, nobody like that kind of debt hanging like a ‘sword of Damocles’ over their heads. And that is one of the beauties of the pension loan is that you may not have to pay any interest on the loan itself. You only pay back what you’ve borrowed (in many cases) and not a penny more. This can be achieved by paying back the loan early. In this particular instance you need to check the full terms of service with the company that you’re getting the loan from.

Lastly don’t forget! If you are looking at your pension fund and have decided that you could invest the money into another (and hopefully) more profitable financial vehicle then you maybe better placed to release the money from your pension.

Pension loan Vs Traditional loan. Which is easier to apply for?

There is a plethora of companies in the market place that can provide you with a loan. A great starting point is to fill in the form at the top of the page. That way you can start looking at your options. And the more options you have the more educated you will be. Begin by filling in the form. If you can you could always find a company that specialises in pension loans. They should be able to let you know how much they are willing to lend you against the value of your pension. Also, how much time you can have for the period of your loan. For example, if you were looking to raise a large amount you may want to release the funds out of your pension. It might also be possible to make some special arrangements where by you take a loan from a years worth of pension payments.

What is a very good idea is to go over all the terms and conditions with a ‘fine toothed comb’. This is necessary as, with some pension loans, there are certain terms and conditions that you will have to adhere to. You need to also be aware that there maybe limits as to the amount of money you can borrow against your pension. Nobody can borrow infinitely! Another thing to remember is that if you borrow against your pension then, when you do retire, you will have a smaller ‘pot’ to get your pension from.

Different forms of pension loans

Hopefully you’ll be able to find a loan that can be tailored to your own individual circumstances. Pension advisors should be able to answer questions that apply to your own personal circumstances. Sometimes it is possible to release the full 100% of your pension. However, do this only if you must. It maybe better to preserve, at least, some of your pension fund.

As mentioned before, one of the best things about a pension loan is that you don’t necessarily have to have a perfect credit rating. Another positive point is that you don’t have to worry about increasing your income to pay off the loan. To qualify for a pension loan all you have to have is a pension pot (or cumulative pension pots) over a certain amount. It doesn’t necessarily matter if your pension is frozen or that you are still paying into that pension. If, for example, you had an old company pension that you’re no longer paying into then you could qualify! The breadth, range, diversity and flexibility of the pension loans market place is what makes it so attractive!

Credit reference offices or agencies are not necessarily interested in pension loans. Therefore, for most pension loans there are no credit checks to be made. You may also find that it takes anything between 8 and 12 weeks to get approval for a pension loan. The organisation that makes the loan should, in many cases, do all the hard work for you. You should be able to keep in touch with them throughout the process so that you know exactly what is going on. All the time.

If you have any questions at all about a pension loan. Or are considering taking one out it is highly recommended that you talk to an Independent Financial Advisor. (IFA)

That being said, for many people, a pension loan can be their best route to the money that they need, even with a low credit rating. This is, possibly, the biggest single reason in the rise of pension loans. In many cases there are no hidden charges, no interest rates and when the loan process is finished you can sit back and enjoy the remainder of your pension income.

 

Martin Smith
written by Martin Smith

Pension Release Under 55 with funds £50k+?

Pension Release Under 55 and funds of over £50k+?

Are you under 55 years of age with a single (or combined) pension fund of over £50,000? Then did you know that up to 90% of your entire pension fund can be made payable directly to you? To find out how firstly complete the registration form shown on the right. This will start the process of assessing just how much of your pension fund can be released to you. Plus it is FREE and without obligation. Then, if you wish, feel free to read the rest of this article. (Don’t worry you won’t be navigated away from this page)

Early pension release? Are you under 55 and looking to get cash from your pension? There are pension release schemes and pension release programmes that enable you to get cash from your pension before the age of 55.

Please be aware that there are new financial programmes that are being created at the moment around pension loans and pension release. Whilst, at the time of writing, every attempt has been made to make this article as relevant as possible. However, by the time you read this the market for pension loans or pension release may have moved in a different direction. To make sure you gain access to the most up to date information please take the time to complete the form at the side of the page. That way you can ensure you get the most up to date information.

If you do wish to release cash from your pension before the age of 55 there are two ways to achieve this and it is largely determined by the size of your particular pension fund:

The first way is if your pension fund is under £50,000. (This being a single or combined pension pot) Then, your main route to releasing your pension fund maybe via a pension loan. So far as research has shown that the minimum value for a pension loan programme will accept is £10,000. This means that if your total pension pot is less than £10,000 you may not qualify for a loan. However, if your total pension fund is between £10,000 and £50,000 you may qualify for a pension loan or a loan against your pension. Depending on your circumstances you might get as much as 15% to 50% of your total pension fund in the form of a loan.

The second way of getting cash from your pension is if your funds exceed £50,000. In these circumstances you maybe able to use a pension release scheme. Although some programmes will only accept this if your funds are £70,000 or £80,000 in total. Researching the market has unearthed one pension release programme that is totally HMRC compliant, 100% legal, has no age restrictions and can deliver you, in the first year, almost 90% of your total pension fund in cash to you. To gain access to this programme simply fill in the form at the side.

Pension loans as a way for early pension release

Weird as it may sound but a pension loan can be applied to people looking for a pension release. There as far too many programmes for pension loans on the market to describe them all in such a short article as this. And, further, the market is developing so rapidly that, by the time you’ve read this, several new programmes have probably been introduced! Some of the programmes do literally offer a loan secured against your pension fund.

However, other ‘loan’ programmes permit money to be released from your pension. Whilst, strictly, these schemes are not “loans” they are described as such by the provider to make it easier to understand for the consumer.

You must be aware, however, that the High Court can take a dim view of pension loan schemes. In December 2011 the court determined that the act of Pension Reciprocation schemes were illegal. These schemes had several people moving their pension funds into a central pot. This central pot then made loans to members of the programme. As a word of warning you should ensure that any pension loan provider you work with does not have a pension reciprocation element within their service offering.

Every care should be taken when releasing money from your pension. As, in the form of a loan, your pension fund is collateral against the loan. Further, if you do draw money from your pension then, when you turn retirement age, your total pension fund will be worth less. Having said all this, if you’re experiencing financial difficulties now then drawing from your pension might be your only financial life line.

Under 55 Early Pension Release?

With a pension fund of over £50,000 or a combined pension fund over £50,000 you might want to consider a pension release programme as opposed to a pension loan. When considering a pension release there are many things worth considering. Whilst not an exhaustive list these may include:

· The overall legality of the pension release. Currently the tax office, Her Majesty’s Revenue and Customs (HMRC) are taking a very close look at the pension release industry and, as the market develops, their ‘rules of engagement’ may very well change. Further the Financial Services Authority (FSA) are taking a very strong interest in the pension release market. Certainly it would be prudent to ask any potential pensions release provider if they are covered by Queens Counsel (QC) support of their programme. Further you could ask if any of their programmes have been looked at by the HMRC and FSA and have passed successfully. Demonstrating that they are tax efficient and fully legal according to the latest legislation.

· Do age restrictions apply? Whilst the majority of programmes might have age restrictions for Pension Release over 55. Some others do not have the same restrictions for pension release under 55.

· Credit history bad? Poor credit checks? For the majority of companies, the great news is that a bad credit history or poor credit checks are largely irrelevant. You can still release money from your pension with this kind of background.

· Want your cash in a hurry? Sadly if you want your money quickly then pension release might disappoint you. The reason being is that it is up to your pension provider to release the funds. This might sound a little strange as this is your money. However, getting the funds from these companies is not as easy as getting your cash out of an ATM. The process can take anything from 4 weeks to 4 months depending on your pension fund provider.

· Can I release the full amount of my pension or just a percentage? This is really dependant upon the company you use for your pension release and the pension provider(s) you are engaged with. To date there is probably only one pension release provider that can offer as much as a full almost 90% of your pension fund. Fill in the form at the top of the page to begin this process.

· Is pension release the right move for you? Well that depends on your own particular circumstances. Many of the companies providing pension release services are not covered by the FSA rules and guidelines. As such it can be a case of ‘buyer beware’. It would be wise to consult a fully qualified Financial Adviser before you make any decisions. However, you can begin your fact finding by filling in the form at the top of the page. This will, at least, provide you with a free no obligation quote and a little information to begin your search for a resolution for your pension release.

Getting cash from your pension. Getting a pension loan. Or getting a pension release.

Begin your search by filling in the form at the top of the page. It will cost you nothing and just might give you access to the funds you need. In return you’ll get a free, no obligation phone call and might just put you on the road to the financial future you desire. Getting the cash from your pension.

 

Martin Smith
written by Martin Smith

Pension Release

Do you want a release from your pension? If your UK based pension pot is in excess of £50,000 you might want to engage in pension release.

Now there could be a way to get access to approximately 85% of this fund WITHOUT attracting the attention of the taxman! This means that almost 85% of your total pension funds value can be paid directly to you.

If you just wanted to gain access to just 17%, 27% or 37% of your fund then this may well be possible too. But the best way to do this is without having to pay ANY tax.

This programme uses legitimate, fully recognised by HMRC, ways to ensure that you get your hands on your money. To gain access to the cash within your pension.

AND you can discover how you can release the funds from within your pension completely and utterly FREE. Simply the form and press ‘send’ for a no obligation discussion.

Some of the reasons you might have for releasing your pension early.

In the current economic climate many people are finding that cash is in short supply. Your pension fund could be a viable source of funding. Cash might be needed to keep your business afloat. You might need money to cover bills. Or you might have looked at how your pension is performing and thought ‘I could do better myself’.

Either way, with this almost unique programme, you can ensure that you get as much (or little) of your money out and put directly into your bank account. For you to use in any manner you wish.

Do other providers give a similar service?

Sure there are some other service providers that you might find that give a very similar service. Different methods to cash in your pension. Please do seek these out and compare the service offerings. Why? Because the methodology employed is almost GUARANTEED to turn your existing pension pot into the most cash in your bank account.

Please make a thorough and complete search of the market place. Start your search by registering your details on the contact form at the top of the page. Remember this is completely free. You then will have then started your search for the best way for you to release your pension funds.

Don’t I have to be over 50 or 55?

No. Not necessarily. With the methodology applied there are simply no age restrictions. The main restriction applied is that your fund needs to be over £50K.

And largely that’s it. Simple.

Why can’t you tell me more about the programme?

That’s because each and every pension release is rather unique. This is why the exact details of each methodological approach cannot be explained here. (Plus there isn’t space and things do change) The full and entire process will be explained clearly and concisely after you’ve completed the application form.

Suffice to say that the process is recognised by HMRC. This does not make use of any tax loopholes. The process is fully HMRC compliant.

What should you do next?

Start your search into releasing the funds in your pension by completing the form at the top of the page. It could be the first step you take towards realising the access to the funds you need.

What do you do with my information?

Protection of your privacy, especially with such sensitive information, is extremely important to us. Your data WILL ONLY be passed on to the programs operator. You WILL NOT be bombarded with sales calls, emails or other such annoying spam companies. For your extra security all data is sent via fully encrypted servers. You can rest assured.

Begin the process to release your funds by filling in the form today.

 

Martin Smith
written by Martin Smith