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Retiring Soon?

"There's still time to make your pension work harder
for you and increase your income for retirement"
Find out how with a Free,
no-obligation Pension Review...
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Better Pensions
Find out how to avoid excessive
fees with a free, no obligation
pension review
The observer
"Pension companies are charging up to 80% in fees"
It's your money, take control of it!
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Pension Shock!

By arranging a quick, no obligation pension review,
you can avoid 'Sleepwalking into retirement'
77% of Britons are retiring
on less than £2,000 a year
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We know that understanding how your pension works can be a daunting process and ‘sticking your head in the sand’ can seem like the only option. In today’s economic climate, by not addressing your pension now, you could be losing money everyday. It can be an easy situation to remedy. It’s your hard earned money so why waste it?

So how do you avoid ‘sleepwalking into retirement’ and the potential of retirement misery? A simple and easy way is to have your a Pension Review.

A FREE Pension Review explains in a simple and easy to understand way, how your pension works. It will show you what you are can expect to receive when you retire, if you are paying excessive fees and highlights options on how to make your pension work better for you, giving you the choice where to put your money. It can also highlight any ‘lost’ money that you may have in a frozen pension and how you can access it.

Reviewing your pension now could have a startling impact on your pension value. By transferring your current pension to a higher performing pension, you could increase the value by as much as three times. The Observer recently stated, “The best performing pension could produce more than three times more pension than the worst performing one. The really bad news is that your pension fund is more likely to be amongst the bad than the good.”

Frozen Pensions

By having a Free Pension Review you could release funds and supercharge your pension pot.

A frozen pension is often regarded as when an employee parts with a company and leaves behind them money paid into an occupational pension. These funds are usually “frozen” until retirement age. Frequently, if the amounts are small, the member and the scheme administrators lose touch with each other, and as a result the pension is never claimed. A free pension review can quickly highlight any frozen pension allowing you to take back control of your money.

Pension Transfer

By transfering your current or frozen pension your could release funds and enhance your pension performance by up to 3 times

A Pension Transfer is often done when people are dissatisfied with their pension performance or when they have a ‘frozen’ pension.  A free pension review can quickly highlight the benefits of transfering any under performing or frozen pensions, allowing you to take back control of your money.

 

 

Pension Release

By having a free pension review you could release your pension, raise funds and supercharge your pension pot.

Many people have underperforming pensions and want to access the funds in their pension – in short, to understand about pensions release. A free pension review can quickly highlight any frozen or under performing pensions allowing you to take back control of your money.  Did you know that in some cases you could access and control up to 80% of your pension pot?

 

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    'Frozen' Pensions Explained

    If you have pension fund from a previous employer some people mistakenly call this a frozen pension.

    A common choice for most people when leaving a company is to leave their old company occupational scheme benefits where it is and start a new one with their next employer. They may refer to their old pension as being a frozen pension, but this is not the case. The correct term is either a deferred pension or paid up pension.

    With these so called frozen pensions, the policy holder or deferred member will not be able to make any further payments into it. The reason the term frozen pension is not accurate is because pension benefits are not actually frozen. Depending on what type of company pension scheme you have, the pension fund could be invested (these are called Defined Contribution pension schemes and not frozen pensions). While this investment will continue to grow (or fall), you, your previous employer nor your future employer are likely to be allowed to make further contributions. You should receive annual illustrations of the benefits and projections of income from your trustees or fund provider. These illustrations will enable you to plan ahead for your additional pension arrangements.

    The other type of pension scheme people some times call frozen pension is a Defined Benefit pension scheme. Again, this is not a frozen pension because the benefits you have accrued in your pension scheme will increase each year from the date you left that employer up to your retirement age. Some of these increases will be by inflation but some of it may be by even more but it is clearly not a frozen pension.

    In some limited circumstances it could be worth considering transferring your old company pension into something else. This could give you the option to move your pension into a pension fund you can continue adding to, or that will yield greater benefits than the current scheme or give you greater control. However; because your old company scheme is not actually a frozen pension, you must be very careful when considering a transfer of your pension rights and it is rare this is ever advisable.

    Whatever your situation it is important to keep all the information regarding these so called frozen pension benefits in a safe place so that when you reach the age at which you can collect your pension, you can easily contact the trustees or fund managers to request that the monies be released. Remember to file all the annual illustrations, and make sure that your spouse or other beneficiaries know where to find the paperwork in case you die before reaching retirement age. This is not a pleasant scenario, but it must be considered as it is an additional burden to those left behind if your paperwork is in a mess.

    So remember, technically there is no such thing as a frozen pension because whether your pension fund is invested and therefore subject to investment fluctuations, or you are a deferred member with pension benefits increasing by other means, you by no stretch of the imagination have a frozen pension as it is always subject to change.

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    'Pension Transfers Explained

    Many people are frustrated with their pension performance and the very real prospect of spending their retirement in poverty. .

    A common choice for many people when leaving a company is to leave their old company occupational scheme benefits where it is and start a new one with their next employer.

    With old or so called ‘frozen pensions’, the policy holder or deferred member will not be able to make any further payments into it. Depending on what type of company pension scheme you have, the pension fund could be invested or transferred (these are called Defined Contribution pension schemes and not frozen pensions). While this investment will continue to grow (or fall), you, your previous employer nor your future employer are likely to be allowed to make further contributions. You should receive annual illustrations of the benefits and projections of income from your trustees or fund provider. These illustrations will enable you to plan ahead for your additional pension arrangements.

    The other type of pension scheme people some times call frozen pension is a Defined Benefit pension scheme. Again, this is not a frozen pension because the benefits you have accrued in your pension scheme will increase each year from the date you left that employer up to your retirement age. Some of these increases will be by inflation but some of it may be by even more but it is clearly not a frozen pension.

    In some limited circumstances it could be worth considering transferring your old company pension into something else. This could give you the option to move your pension into a pension fund you can continue adding to, or that will yield greater benefits than the current scheme or give you greater control. However; because your old company scheme is not actually a frozen pension, you must be very careful when considering a transfer of your pension rights and it is rare this is ever advisable.

    Whatever your situation it is important to keep all the information regarding these so called frozen pension benefits in a safe place so that when you reach the age at which you can collect your pension, you can easily contact the trustees or fund managers to request that the monies be released. Remember to file all the annual illustrations, and make sure that your spouse or other beneficiaries know where to find the paperwork in case you die before reaching retirement age. This is not a pleasant scenario, but it must be considered as it is an additional burden to those left behind if your paperwork is in a mess.

    So remember, technically there is no such thing as a frozen pension because whether your pension fund is invested and therefore subject to investment fluctuations, or you are a deferred member with pension benefits increasing by other means, you by no stretch of the imagination have a frozen pension as it is always subject to change.

Pension Reviews Explained…

Step 1: Signed approval from you
To get your pension reviewed quickly, safely and securely, an Independent Financial Advisor will require a signed letter authorising them to contact your pension company on your behalf. This letter is called an LOA (Letter Of Authority). This does not allow us to make any changes to your pension or personal information in any way.

Step 2: Collecting your Letter Of Authority
For your convenience we can arrange for a secure courier to arrive with this letter (LOA) at a place of your choice and at a time that suits you. You simply sign the letter, hand it to the secure courier and they deliver it back to us.

Step 3: Organising your Pension Review
This is a FREE, NO-OBLIGATION REVIEW and gives you the total control and complete freedom to make a formal decision on what you want to do with your pension moving forward.