Think Pensions

26 September 2012 16:00 - Which Way to Pay

    



Think Pensions

Think Pension, Pension Release allows you to access money you have saved for your pension before you retire, or before the full term of the pension is up. You could release tax free cash from a private or company pension but this service does not apply to state pensions. You will need to be 55 or over, have a UK pension that you are not receiving benefits from and have a need for cash. The amount of accessible cash in pension funds depends on the total value of your individual scheme. You are normally allowed to release up to 25% of the value of the pension as a tax free sum, the rest must be used to provide an income either now or in the future. You can choose to receive this money yearly, half yearly, or monthly, whatever suits your needs best. You don't have to release the maximum amount of cash from your pension and you should only release what you need.

It is worth pointing out that the whole purpose of making contributions to a pension scheme is to provide an income during retirement. It is therefore important to be aware that releasing your pension benefits early could reduce your income and your standard of living in retirement. This is why Pension release is only suitable for a limited number of people and circumstances and shouldn't be seen as an easy option to raise cash.

Advantages:

1. Think Pensions can put customers immediately in touch with a Pension Release advisor who can help them release funds from their pension.

2. Think Pensions Release help customers obtain a Tax-Free cash

3. Think Pensions will locate a company who will perform a FREE, Obligation review of your Pension .

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Related Links :
Pensions Release - Compare Pensions Release Companies Here

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