Tax Free Cash

//Tax Free Cash
Tax Free Cash 2018-01-03T16:51:36+00:00

If you are age 55 or over you can have full access to Pension Funds.

If you have frozen personal pension schemes or frozen company schemes we can help you find out about all of these and once we have the full information advise you accordingly.

It has to be remembered that a pension policy or policies are meant to be for your retirement so spending the money early, from age 55, will compromise your retirement. Needless to say since the introduction of Pension Freedoms in April 2015 you are able to access not only your Tax Free Cash otherwise known as Pension Commencement Lump Sum (PCLS) from age 55 but also the fund itself. One needs to be sensible when looking at these matters, especially if the source of the fund is from a Safeguarded Benefit such as a previous opt out of SERPS or S2P transfer or even from accumulated personal pension funds or a previous transfer out that you have made from a company final salary scheme.

By advising in this area we still need to go through the full process of advice to ensure that you know what you are doing and the consequence of such action as you only get the opportunity to retire once in the real world.

Reasons to Access your Tax Free Cash

Everyone has different needs and requirements during their lives and depending upon one’s current situation will denote what one would or would not need. For some accessing the Tax Free Cash from age 55 onwards may be beneficial and enable them to do sensible things with the money while others may need the money as a lifeline through being in a financial fix at the time. Others may wish to reduce their mortgage which in turn will reduce mortgage interest rate risk and may enable them to save more. Some people of course will just want the money come what may. In essence there is no one singular reason.

If  so.

  • Do you know what the pension policy or policies are going to give you at retirement money wise?
  • What is the single or multiple pension policy that you have? Is it a personal pension or past frozen company pension? Maybe the source is a past opt out of SERPS scheme you did but have forgotten about. We can find out.
  • We need to know all aspects of each plan that you have to see if transferring them is the best thing for you.
  • If you want the Tax Free Cash, based on our discussions with you we can set up the best way for you to achieve this policy wise.
  • If you have multiple policies, depending upon values you may not want all the Tax free Cash at once so we can help sort this out for you too and stage the plans to give you maximum flexibility when getting Tax Free Cash.
  • Your new plan can be set up with your attitude to risk taken into account and will be subject to regular reviews by us and you. Existing personal pensions if not transferred can be looked at and managed by us too.
  • Have you applied for a state pension forecast yet? This is free, yes free. We can help with that.
  • If you wish to look at accessing Tax Free Cash and or getting you pensions in order then we can help. Contact us via the contact us button below.

Contact Us Today To Discuss Your Pension Needs!

We specialise in Pensions and will personally call you back to discuss your individual needs.
Contact Us Today

Contact Us Today To Discuss Your Pension Needs!

We specialise in Pensions and will personally call you back to discuss your individual needs.
Contact Us Today