Early pension release, advice required?

Question

Hi folks. I'm looking to raise some finance to do some home improvements and looking at various options. I have two dormant work pensions (no longer paying into them) and the combined totals of both is around £35,000. I know that you can benefit from this if you are over 55 but I'm not, i'm 47. Still I have come across ads indicating that there are plenty of ways I can still access 20% of my pension (regardless of age) but I'm not sure they're a risk free option. Do any of you Financial heads out there know anything about these? i know to run a mile from anything to do with overseas property investments and organisations who aren't FSA approved. In short, are there any 'early pension release' companys worth talking to or is it all something to avoid?

Answer 1

The early pension release companies will be the same parasites involved in getting PPI paid back. Do you really want to give these people a large chunk of your pension? They may be regulated by the FSA, but when did that ever stop them from ripping you off!

Answer 2

The advice you need for taking early cash from a pension scheme is very highly regulated. I could probably be shot for giving you this much. Before anyone can give you advice, they need to know your personal circumstances and your attitude to risk. If your pension schemes are your only way of raising cash, go and see an independent financial adviser and be prepared to pay him a fee even if the advice is not to do it.

Answer 3

of path its not something to do with me what you do,yet you will experience sorry approximately it plenty once you get to be sixty seven like me. i'm so thankfull I even have my corporation pension and state pension.i'm somewhat nicely off particularly.it could have been so diverse. i anticipate you recommend a private pension? you have purely paid it 13 years. It relies upon what corporation or financial employer you're with.It does seem smart to touch them direct and ask them what your place is.

Answer 4

Hi,



I have heard of a way to release cash from pensions via a website (see source below) I have not tried it myself but a friend of mine has and he seemed happy with the service etc.