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

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