Get Maximum Returns For Your Frozen Pensions
When it comes to frozen pensions, there are two primary facts to consider.
Fact #1: There are hundreds of billions of pounds in such pensions, which are virtually giving zero returns
Fact #2: A majority of individuals over 35 years of age will have frozen or dormant pensions
Are not these facts alarming? Because of these, there are scores of pension and investment specialists along with independent financial advisors offering free reviews with regard to pension release, annuities, transfers, and QROPS (Qualifying Recognised Overseas Pension Scheme). With the assistance and guidance from the best companies, you can get maximum returns when it comes to your current or frozen pensions.
Did you know that in recent times regulations have been drastically changed? Thus, presently, you have the ability to exercise more control with regards to where and what your personal pension is effectively invested into.
There are two additional facts to consider:
Fact: In order to receive 1,000 pounds every month during your retirement phase, you would need 250,000 pounds in your pension at the time of retiring.
Fact: In the event of your death, the insurance company that manages your pension retains all your money, and none of it can be passed on to your children or near and dear ones.
The aforementioned facts can be quite disturbing, can’t they?
If you have nearly 30,000 pounds in a frozen pension, the likelihood is that it will remain the same or even less in a span of 10 years and will be generating a return of approximately 2% on an annual basis, which will merely cover the yearly cost to the pension company that is managing it now.
By authorising an independent financial advisor or pension specialist to alter your pension type to Self Invested Personal Pension (SIPP), you can get returns of 8% or more per year easily in a safe and secure investment environment. What’s more, the costs are generally lower than what you are paying now, earnings are completely tax free, and you need not wait until your retirement to avail the benefits. Therefore, why wait? Enjoy your money now, completely devoid of tax.
Independent financial advisors and pension specialists are obtaining new clients on a daily basis with pension funds between 10,000 pounds and 500,000 pounds. They are eventually transferring millions of pounds each month and assisting individuals in:
• Understanding their pensions
• Receiving better returns
• Receiving enhanced transparency with regard to their pension and the current costs involved
• Deciding where their money is eventually invested
• Understanding how and what happens to their pension in the event of their death, and ways to set it up to be eventually passed on to their spouse or children or both.
Any individual demonstrating interest in these services should look out for pension experts or pension release companies. Most of them will offer a free appraisal with regard to your frozen pensions. They eventually earn their money from the management of your investment if you opt to use their bespoke services.
Even in the event if you have forgotten about your pension, a competent financial company will help you in effectively tracking all your pensions.