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Independent Financial Advisers have access to the whole pensions market, they have no links or ties to any one particular product provider and will work for you to find the best financial product that meets your needs.

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Pension Release (APPLICABLE TO OVER 55's ONLY)


'Unlocking Your Pension' - stop and think!


You may have seen or heard adverts about getting your pension money before you retire if you are 50 or over. They might sound tempting - but stop and think.


A pension is a long-term savings plan for your retirement so think very carefully before cashing in your pension before you retire. Once you have used the money, there is no time to go back and save up again. Cashing in your pension could seriously harm your income and lifestyle for the rest of your life.


What is 'unlocking your pension'?

'Unlocking your pension' is marketing jargon for taking your pension benefits before your retirement age. This means the money you take will not only be less than if you had left it until your retirement age, but it will have to last longer.


'Unlocking your pension' will rarely be to your long-term financial advantage. Only in exceptional cases, where you have immediate needs and no other option, should you even consider doing it.


What happens when you 'unlock your pension'?

If you have an occupational pension fund with a former employer and you are 55 or over, you might be able to take your benefits by taking early retirement. If you have a personal or stakeholder pension, you can take your benefits from age 55 onwards.


If you can't take early retirement from your occupational pension scheme, you might be able to transfer your benefits to a new pension arrangement before retirement age. This is called 'unlocking your pension' and means you can:

  • take a tax-free lump sum out of your fund;

  • buy an annuity with the rest of your pension fund to give you a pension income for life;

  • 'Unlocking your pension' may not be to your long-term financial advantage. Only in exceptional cases, where you have immediate needs and no other option, should you even consider doing it. You should take qualified independent financial advice before making any decision.

Please use the form below to set out your financial advice requirements, all enquiries are dealt with in the strictest confidence and with free initial consultation and no obligation.

 

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On pressing the send button you will be contacted by Sweetland Associates Ltd who will ask some relevant questions about your pension requirements.

 

Sweetland Associates Ltd is registered in Wales under CRN4689304 and our registered office and business address is
24 Bridge Street Newport. Our telephone number is 01633 247700. Our e-mail address is sweetlandifa@btconnect.com

Sweetland Associates Ltd is an Appointed Representative of TenetConnect Limited which is authorised and regulated by the Financial Services Authority.

TenetConnect Services Ltd is entered in the FSA Register (www.fsa.gov.uk/register/home.do) under reference 150643