Accessing funds from your pension early can be a complicated process requiring expert advice. The team at Open Door will source the right advice so you make the right decision. Once you have completed a short questionnaire the team will collect information about your pension and collate a report. All the options will be covered and a recommendation given. If you are advised to proceed, application forms will be provided. A weekly report will be provided to keep you informed of the progress being made. Once the unlocking is completed you will be sent an executive pen set as a welcome gift.
Once you have reached 55 you become eligible to draw your pension. This could be a personal pension you started or one arranged by a past employer. You can access just the tax free cash sum (25% of the fund value) without drawing an income. This process is known as pension release or pension unlocking. Unlock my pension are experienced in sourcing advice in this specialist sector of financial advice. You will be contacted to explain the process, any charges and likely timescales. You will be asked to complete a comprehensive questionnaire that will be used to produce a report on your options. A copy of this questionnaire as well as a complimentary executive pen will be sent to you in your welcome pack. Find more interested information on guarantor loans lenders .
An adviser will help answer those points that are perhaps technical or difficult to understand. Only when you fully understand the implication of releasing funds from your pension will you move to the next stage. On completing the release of your lump sum cash amount , which is paid into your bank account we will send your selected gift ? a choice of his or her watches or an M&S voucher.
For those over 55, unlocking your pension is a way of releasing up to 25% of the value of your fund as a tax free cash sum. As a last resort this can be a good way of using your fund to perhaps repay debt or pay for other vital items. The process allows you the opportunity of a lump sum (tax free) while delaying drawing your pension income or taking one-off income payments. Once a questionnaire (a 'Fact Find') is completed you will be sent your welcome pack. This contains instructions on how to proceed, an explanation of charges, a choice of gifts on completion as well as a quality pen with our compliments. Unlock My Pension will source expert advice on the best way to proceed and ensure that you are given regular updates on progress. A report pack will be sent to you advising whether or not to proceed with releasing cash from your pension. It can take a while to collate all the information needed to produce a recommendation. Good advice is worth waiting for and that is the commitment we make ? to find you the right advice for your circumstances from an industry expert.