Frozen Pension - Get a Better Return for Your Current

There are plenty of investment & pension specialists around as well as independent financial advisors providing free reviews for Pension Release, Transfers & QROPS. There is 100's of billions of pounds sat in frozen pensions making virtually no return, with help from the right company you can get more for your current or frozen pension.

Rise in Frozen Pension, failures in work pension schemes, low interests rate, the pressure of day-to-day living in austere times have all been blamed for the shortage of interest in company pension plans. But lots of people's decisions to snub the pension pot are based on misconceptions about both pension designs & about the post-work economic landscape that British people can expect when they reach retirement age.

Like many United Kingdom has an aging population and a decreasing birth rate. Whilst the employees are currently funding the elderly aged pensioners, it remains not clear how the next generation of elderly aged pensioners will be funded. Basically put, they are getting older and the pension process currently in place is unable to accommodate this.

But these are still in the process & yet to be implemented; the current pension rules does not permit individuals to merge their Pension Money as they move from job to job in the work of their working years. These result in frozen pension pots or lost money. Plenty of may finish up with multiple pension money stuck in different pension plans.

Frozen company pensions options can be summarised as follows:

• Transferral - Transfer the frozen company pension to another company pension scheme. Allowing you to then make new contributions
• Acceptance - Leave the frozen company pension with your previous employer and accept that you will not be able to pay into it again
• Conversion - Convert the frozen company pension over to a Personal Pension Plan, allowing you to start making contributions again
• Buy Out - Transfer the frozen company pension to a Section 32 Buy Out Policy

The UK government is currently taking a look at making it simpler for workers to take their pensions with them as they switch job to another. A clear technique is expected to be developed in which individuals with tiny pension money can over forward their pension plan when they switch jobs.

There may be a lot of reasons for having frozen pension pots including change of a job, change in marital status, change in financial circumstances or probably it is redundancy that you stopped making contribution in to your pension. Such types of left out or locked pension money are called paid up pensions. Some people also refer to it as Frozen Pension or dormant pension money.

No matter what you call it, your pension money will keep going reducing in its value each year in case you leave it as is. This is chiefly because of reasons:

1. High charges levied by the pension providers. Your service provider can charge as much as 3% over your total fund each year.
2. It might be the case that your pension fund is invested in stocks & shares & due to bad investment performance, your money have remained at a same or lower value.

Pensionfundsreleased is the UK regulator of work-based Pension release schemes, working to improve confidence in work-based pensions by protecting members' benefits and encouraging high standards and good practice in running pension schemes. Pensionfundsreleased.co.uk is a introducer to various companies who offer products here in the U.K.

Visit us at: http://www.pensionfundsreleased.co.uk/contact.php and Contact us on email: info@pensionfundsreleased.co.uk or Phone No.07582530780.

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