Sell My Pension
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Have you asked yourself the question, can I really sell my pension?
For as long as recorded times exists, pensions have been in the news. Time-after-time we hear of horror stories from pensioners who only find out after they retire that their pension fund wasn't up to the task. Did you know? The average UK adult needs to add about £70,000 to their pension pot simply to get a basic income of £17,000 per year on retirement, and for many it's much more.
Could you live on £17,000 per year?
Are you unsure what your pension might be worth when you retire, or if it's even worth continuing to invest in it. Perhaps you've considered selling your pension before, or maybe you would like to sell your pension.
The law and "selling your pension"
The law is very clear on pensions, and whilst there are a number of methods available to sell your pension, most of us will not meet the stringent criteria required before we reach 55 years of age. Those criteria being dependent on the type of fund you are invested in and any serious medical conditions you may be suffering from.
It is always worth a quick chat, so if you are under 55 and contemplating selling your pension, fill in the form and we will introduce you to a pension specialist who will explain any options you have.
As soon as you reach the age of 55 you may feel that it is in your best interests to take a lump sum, or all of your pension. At age 55, and up until your 75th birthday you are legally able to release a tax-free lump-sum that can be as much as 25% of your total pension fund.
Why might you consider selling your pension?
Life offers us many opportunities and challenges that sometimes require additional capital, perhaps to fund the development of a new build property or even to deal with repairs and refurbishments. Perhaps you have children who are getting married or maybe you just want to get away from it all on a holiday, even the holiday-of-a-lifetime.
Often we are told that just not knowing if your current pension fund is performing as well as it should be is a key determining factor when it comes to deciding to sell a pension. You may have a more suitable vehicle for your investment, one that yields a higher return or offers a more acceptable level of risk.
So how do you go about selling my pension?
The terminology - sell my pension is somewhat in-distinct. The truth is it's not really "selling" as the average person would understand it. What is really being discussed is any method of taking cash out of your pension in a lump-sum prior to your originally expected retirement age.
As pension advice is an unregulated market there are a lot of unscrupulous "scam" offers. We will ensure you are only introduced to FCA regulated advisers that have extensive pension experience. The adviser will take into account your personal circumstances to provide customised options for you. They will also explain any tax related issues and liabilities that may fall due.
Sell My Pension for under 55's
Professional FCA registered advisers.
Maybe you've considered the question, can I really Sell My Pension?
Depending on your personal circumstances it may be possible to sell your pension, even if you are under the age of 55.
It is against the law to sell your pension unless your circumstance allow you to meet very specific criteria. And this can often be dependent on the original pension scheme you signed into, and if you have any serious illnesses. Contact us to find out if you can sell your pension if you're under 55.