Locked Pension

Problems getting your cash?

Following the new Pension Freedoms promised by the government  there has been a steady flow of horror stories from finding it difficult or impossible to release their own money from the pension plans.  Many pension companies are being difficult and the pension market is already being called a shambles.

Have you been told you need to get advice?

If your pension pot exceeds £30,000 you have to get financial advice before you can get the new pension freedoms promised by the government. But why is this? And why is it so difficult to find a company that can help?

We all know that your pension is designed to provide you with an income for your retirement.  There are good reasons why you need to get advice before releasing your pension early.  Taking you pension early may leave you without sufficient income later in life or you could be relying on the State Pension if you take your pension cash too quickly.  Unfortunately the majority of advisers start with this outlook before looking into your circumstances to decide if it is a suitable option for you.  This is why so many people are struggling to find an adviser who will help them deal with all the options available.

Albion Pensions can help

Albion Pensions are happy to help you decide what is the best route to take.  We will fully evaluate your circumstances and your needs to help you decide if taking your pension now is a viable option.  We will look at how much you need, how much you can get and fully explore the tax implications.  Unlike many advisers we will look at your arrangements and put forward our recommendations completely free of charge. Most advisers will charge at least £500 for a report of this type and you still may not be able to do release your pension.  We only charge a fee if you decide to go ahead with our recommendations,

if you decide to follow our advice we will tell you what it will cost for us to process the recommendations in our report.  We will only charge a fee if you proceed and it will usually be paid from your fund on completion, so you don’t have to write us a cheque.  In many cases our clients have found that our fee is much less than the tax we will have saved them.