Seniors Warming to Pension Release Schemes
(PRWEB UK) 12 October 2012
A significant uptick has been noted in the number of pension release enquiries made by UK residents, according to Pension Converters. However, the group has also become aware of a growing number of pension release services misleading the nation and offering perhaps deliberately misleading advice:
Early Release
There are hundreds of reasons why a person may wish to withdraw some of their pension early, which most are fully entitled to do with savings amounting to £30,000 or higher. According to Pension Converters however, the most common motives across the UK today include the transferring of funds to high-interest accounts, obtaining cash to use as an alternative to costly loans or simply a means by which to live for the day. With 25% and sometimes up to 100% of the amounted sum available, those with sufficient pension funds certainly have a good amount of cash within reach should they need it.
Sadly, it seems that much of the nation remains largely unaware of the risks and the inescapable fact that pension release really is not the right move for everyone.
Hidden Risks
“We ensure you are provided with all of the information you need to make an informed decision on whether releasing money from your pension is the right move for you.” – Pension Converters
What sets Pension Converters apart from most rival pension release specialists is the way in which the business as a whole is founded upon strong moral and ethical foundations, therefore only ever presents the facts exactly as they are.
While releasing a pension early has countless benefits of which most are largely obvious, there are also risks and downsides to be brought into consideration – most of which the public may be unaware of. With up to £200 million per year now known to be handled by pension release schemes, the importance of honesty and transparent operations is enormous.
For example, not only will there often be transfer fees to factor in, but there is also the unavoidable tax payments that will have to be made on the freed funds. Add into the mix the stealth charges many of the less reputable and downright fraudulent services add on and in some cases a person has come out with next to nothing.
Pressure-Free Service
“We ask internet service providers to close down websites where we know there are illegal activities going on. They are largely untraceable, so the message is, if you get a call out of the blue offering to unlock your pension, that is something that you should be extremely wary of doing.” – UK Financial Services Authority
Pension Converters stands shoulder to shoulder with the UK’s FSA in terms of fronting the fight against pressuring the public into entering pension release schemes in order to turn a profit. As should be the case with any reputable release firm, Pension Converters will never go out of its way to push its products or services on anyone, but rather has an open-door policy for all UK citizens looking for fair, honest and completely neutral advice on pension release options.
About Pension Converters:
Pension Converters work with a number of specialist Independent Financial Advisors and Pension Administrators, all of whom are licensed in the UK, and whose combined knowledge forms an unrivalled knowledge bank on the subject of pension release options. Proudly standing head and shoulders above their rivals, the team at Pension Converters takes its moral duty to finding the right advice for you, very seriously and supports the efforts to eliminate misleading agents from the UK market. See http://www.pensionconverters.co.uk/ for further details.
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