1 Do you know anyone, friends, family or associates, who have poor performing cash or pension investments? These can be investments that they are currently contributing to or pensions that were frozen when they left previous employment. It is now possible to look at freedom in pension planning while also releasing some capital from the pension transfer by setting up an Umbrella Pension Trust . This is not a pension loan scheme.
Taking an amount from your pension before retirement can result in getting a 55% tax bill. Let the experts guide you through a process which will give you freedom in pension planning to access the cash in your pension in a tax free way. Have a frozen or current UK pension? Under the age of 55? Have money locked in your pension fund? Need to be free of pension law and restraints? Call us on 01924 378643 for friendly advice.
The use of The Pension Trust will allow you complete freedom to manage your funds as you choose. This involves a fund transfer from your existing provider into a specific occupational pension scheme. From here a very clever and fully-legal procedure takes place, involving leaving the scheme and distributing the surplus via an offshore Trust which has delegated all fiduciary responsibility to a new UK Personal Management Company.
The minimum fund value required to access the scheme is £40,000, which can be combined from one or more separate schemes, There is no maximum. Timescales vary and are largely dependent upon the speed and efficiency of existing scheme providers, with deferred company final salary schemes typically being the slowest. We usually suggest the average will be 8-12 weeks from application to completion.