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Unlock pension: we can help you to unlock your pension fund cash. If this is
still an idea you have been exploring or have even researched about you should be aware of the pension scammers and companies that offer unlock pension services or also known as pension liberation. Beware of pension scams when inquiring about possibly unlocking your pension cash:
Most, if not all, employed individuals have pension plans either provided for by the government, by their employers, or by themselves. They are intended as retirement funds; money that they can use to provide for their needs when they are already in their old age.
However, what if they want to unlock pension before they reach maturity? Is it possible and when is the right time to do this? A more apt question would be: what are the usual concerns that people who want to do this face?
The difference between unlocking and unlock a pension is pretty much the same.. it means the same, by unlocking your pension means you could access £1000’s of cash from your private, personal or any other pension policy you may have. The best thing to do is either contact your provider or contact us and we can try and help you through the unlocking process. The unlocking process can be a tricky one to steer through, and can be difficult to digest if you are not familiar with pensions and the process that surrounds pensions.
The main reasons which we have discussed on the page already is purely and mainly down to debt. The aver debt now per household in the UK is approx £15,000. Over the last few years we have seen many companies go bust and people losing their jobs. So if you have a frozen pension that is just sitting there and not doing anything or simply not giving you a return then to free up some much needed cash; unlocking pension is good option.
There are huge benefits to you and your family by unlocking a pension. The obvious and most popular benefits include a cash lump sum into your bank account, having a cash lump sum that could be 25% tax free as well as giving you the freedom to do whatever you want! So you may want to ask yourself; ‘unlocking my pension’ is it the right thing for me?’
Unlocking pension is a very important decision for you to make because you want to make sure that you still have enough in your pension fund to for retirement age, so unlocking pension may not be the best solution for you. As soon as you start the process then there is no turning back as you would have received the cash as a tax free lump sum into you bank account. So do you still want to unlock my pension or thinking of unlocking still ? Only you can decide what to do and only you can asses the future….
Yes, it is possible to unlock pension before your retirement age. Its maturity date, the charges you have to pay and other terms and conditions are all stipulated in the contract between you and your provider. If you need the money before your pension plan matures, and you have reached the age of 55, you can do this. One of the best methods to check if your pension can be used to unlock funds is to check with your pension polcy UK holder or company. When you unlock a pension you could face various fees or costs from your provider. There are about 5 popular and leading pension providers in the UK that can unlock my pension, these are listed below in the image.
Have you heard of pension liberation before? You should be aware of unlocking pension scams or companies marketing with the headline’ ‘UNLOCK MY PENSION’ or in other marketing materils. You should be aware of these marketing companies and below is the common methods that are used to entice you to unlock a pension;
Before proceeding to unlock pension, you need to take several things into consideration. One of these is if you are ready to accept a much lesser amount than you will receive if you wait until you retire. This is because you will certainly not get the amount that you expected to receive upon retirement. Another thing you have to take into consideration is if you really need money now or if your needs can wait until you can come by some cash from other sources. If your purpose is to reinvest the amount on another scheme, be sure that it is safe and secure and that it will generate more income for you in the future. Some entities might approach you offering to help you unlock pension through pension liberation schemes. Be very careful in dealing with them though because some of these people are only out to get your money.
The main reasons people tend to unlock a pension is due to financials difficulties and this could be in due to either losing your job, in debt or in some cases just want to go away on holiday…
If you need to know more or would like more information about how to unlock your pension then you can contact our dedicated pension unlocking team to assist in the star to finish process. Contact us today and we will try our best to provide you with as much information as possible.