Taking pension money early isn't right for everyone because it could leave you with less to live on in retirement. That's why it makes sense to talk with an independent and regulated financial adviser first. With our no obligation pension check discover what you could do with your retirement savings.
If you decide to make a change to your pension, including releasing money from it, we will take care of everything for you. We'll also let you know in writing what the fee would be. Or, you can choose to walk away with nothing to pay. Through Portafina, your pension savings are protected by the Financial Services Compensation Scheme up to 85,000 in the event your scheme provider fails.
If you decide to make a change to your pension, including releasing money from it, we will take care of everything for you. We'll also let you know in writing what the fee would be. Or, you can choose to walk away with nothing to pay. Through Portafina, your pension savings are protected by the Financial Services Compensation Scheme up to 85,000 in the event your scheme provider fails.
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Pension release simply means withdrawing money from your retirement savings. As long as you are 55 or over and have an eligible scheme then current government rules mean you can withdraw as much money as you like from your pension pot. The first 25% withdrawn is usually tax free. After that, any withdrawals are subject to income tax at your marginal rate.
Unlike many financial advisers, we don't expect our clients to have hundreds of thousands of pounds in their pot before we'll help them with their pension. If you believe you have 12,500 or more we can check your pension for you, letting you know how much you could release tax free and if we think it's the right thing for you to do.
The idea of pensions is simple: a pot of money for us to live on when we retire. And yet, like many financial tools, the rules and mechanisms surrounding pensions are far from straightforward. And the decisions we make with our savings from 55 could have a lasting impact on how we can afford to live our lives in the future.
If you take your full tax-free cash allowance, 75% of your savings still need specialist care. When we help clients release money from their pension, we invest the remainder of their savings in a modern, tailored portfolio. How these investments perform has a significant impact on the size of their pension pots later on in life.
Your pension portfolio determines how and where your savings are invested. And even if you take your 25% tax-free cash, that's 75% of your pension that still needs careful management. At Portafina we have 5 main portfolios that reflect the different attitudes people have when it comes to how much risk they are prepared to take with their pension investments.
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