If you are considering taking the pension release route it is important to seek professional, impartial advice prior to doing so.
Pension schemes are complex and any decision you make now regarding your pension fund could affect the value of your pension later on. It may also affect the amount you get in regular pension payments. Clearly this is not a decision to take on the spur of the moment – neither is it a decision you should take without all the proper information in front of you that is relevant to your situation.
We are proud to have a whole of market status. This means we can offer products from across the entire financial marketplace. As such we are able to identify the best financial solutions for our clients instead of focusing on ourselves. We are dedicated to providing flexible solutions for each and every client, tailored towards the individual and ticking all the relevant boxes to meet their aims, aspirations and life goals.
To qualify for Pension release you must fulfill the three criteria imposed by the Government:
You must be between the 55 years and the age you qualify for retirement. The age you can retire is different for different people. You cannot take Pension Release under the age of 55 except in extreme circumstances.
You must have an eligeable Private, Personal, Company or Final Salary Pension that you are not already receiving any income from. It is not possible to release money from the state pension.
25% of the total value of your pension is the maximum you are able to release early. You do not have to take as much as 25% if you want to leave some of it for later, but you cannot take more.
If you meet all the criteria and you think pension release might be suitable for your own financial and personal situation, contact Capital & Income Solutions today. We offer a free initial consultation to help steer you towards the best and most financially sound retirement.