Are you thinking of accessing your pension savings because of financial difficulties or market volatility?
Before you make the decision to access your pension savings, have you considered looking to any other sources for financial support?
MoneyHelper has compiled a comprehensive guide to the financial support available right now such as:
- Benefits from the government to help with unemployment or sickness
- Debt advice
If you prefer to talk, you can call MoneyHelper for support on debts, reducing spending and making the most of your income on 0800 138 7777 (English) or 0800 138 0555 (Welsh)
- Your pension savings with us are a long term investment to provide for your future. Making decisions about your pension based on short term events and circumstances can have long term consequences for your financial wellbeing and retirement.
- If you don’t need your money to live on, you should consider carefully whether to take it out. You will receive only the current value of your pension investments which might have fallen recently. You might miss out on any increases in value in the future if markets recover. If you're unsure, you should speak to Pension Wise, a Government service from MoneyHelper that offers free, impartial pensions guidance, and / or seek financial advice.
- Once you have taken your pension savings, you will have less money available to generate the income you may need in later life.
Please contact us if you need any further information or additional support.
I have read the above information and am happy to continue to the application