Pension Release
is the process of taking a Tax-Free cash sum from your
UK pension to spend how you wish. You could even clear
your debts!
In many circumstances, your pension-fund could hold
the key to accessing some tax-free
cash. You may have considered releasing money for many
reasons, such as;
- for further investment elsewhere
- to clear existing debt
- as a debt consolidation program
- as an alternative to taking a loan
- to make a beneficial financial settlement
- to clear a mortgage or other loan
...and many more.
For example - in certain circumstances, another loan
is the last thing you want. Furthermore, if you have
financial difficulties then it's not uncommon for loan
companies to take advantage, with higher rates or security
demands.
So as part of a sensible financial-planning exercise,
releasing cash from your pension could be a real option
for you. If you've been paying into a pension scheme
for more than five years, the chances are we can help.
Pros and Cons
Ultimately, you will be reducing your final pension
fund by the percentage released, and as a result, the
payments you receive during retirement may decrease.
For this reason, Pension Release is not for everyone.
However, in many cases where a cash sum is required,
it is a tax-free way of releasing capital before your
retirement.
Need to beat the 2010 deadline?
The Tax-Free sum available is generally up to 25% of
the fund value, and currently you have to be over 50
to be qualify.
However, in 2010 the government will raise the eligibility
age to 55. This means if you are currently over 50,
you oly have until this date to apply for this facility.
How Long Does it Take?
You will need to complete some questionnaire forms,
and we will need to contact your pension company - who
also need to release the funds if you decide to proceed.
We will keep you fully informed throughout, but due
to these variables, a timescale is hard to predict.
Therefore it should be noted that Pension Release may
not necessarily be a 'quick-fix' to a short-term financial
problem.
Is it Right for Me?
As with many retirement planning options, Pension Release
is likely to be suitable only for a certain type of
customer or in particular circumstances. We therefore
highly recommended you seek qualified, independent financial
advice in order to carefully consider your options.
Get the Full Story
Robert Bruce Associates
can offer you specialist, helpful and clear advice on
Pension release, to help you make an informed choice.
Our qualified advisors will ensure any decision is made
only once you have all the facts in hand, and only as
a result of establishing your personal wishes and criteria.
Why not call us today?
Get the most out of
your retirement.
Call us today
on: 0845 838 7377
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