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Pension Freedoms or Pension Restrictions?

pension freedoms or pension restrictions?

New pension freedoms are now in full force, yet some providers are still reluctant to grant savers fully flexible access to their pension pots, despite a reported unprecedented level of requests to do so.

Others do so with questionable constraints: requiring their customers to buy an annuity or withdraw the full fund, rather than offering sets of options.

In both instances, this stems from a reluctance to facilitate flexible drawdown UFPLS (uncrystallised funds pension lump sum) – leaving savers with a binary decision: stay or transfer your funds to another provider.

Take Time to Assess Your Options

This is clearly in contrast to the wave of excitement and resulting enquiries that April’s Pension Reforms has created. With savings rates remaining at historically low levels and a relatively upbeat forecast for the UK economy, the appeal of withdrawing cash for reasons ranging from investments, to debt consolidation or property purchase, is clearly widespread.

Excitement should clearly not be confused with hasty decision making however, and experts across the board will stress the importance of taking time to assess all options before investing. With pension investment in mind, nurturing savings over spending them will not necessarily narrow the range of fruitful investment opportunities in today’s market.

For those looking into their options and the potential for investment, Peer-to-Peer lending is becoming a popular alternative to more traditional routes. What has previously been one of the lesser known financial products on the market is now becoming a mainstream choice. Peer-to-Peer lending is not covered by the Financial Services Compensation Scheme (FSCS)

With Wellesley & Co, you could gain rates of return of up to 6.32% on a 5 year investment. When selecting investments through a Peer-to-Peer lending platform such as Wellesley, it is vital to know that your capital is at risk if a borrower defaults. The firm is Authorised and Regulated by the Financial Conduct Authority (FCA).

If you would like more information on the options available to you and your pension pot, please get in touch with our customer service team today on 0800 888 6001 or email [email protected]

 

Bear in mind

Wellesley Property Bond

  • The Wellesley Property Bond has a fixed rate and duration.
  • The Wellesley Property Bond is an ISA eligible investment, allowing you to earn tax free interest on your investment. Please note, tax allowances and the tax efficient benefit of ISAs could change in the future.

Your capital is at risk and interest payments are not guaranteed. Investment in any Wellesley Property Bonds are not covered by the Financial Services Compensation Scheme (FSCS). In the event of a loan default or if Wellesley Secured Finance Plc becomes insolvent, you may lose some or all of your investment, including interest payments due. If you are in any doubt about making an investment or do not fully understand the risks, you are strongly recommended to consult an independent professional financial adviser before you subscribe.

Wellesley is the singular name for the following collective of companies, Wellesley Group Limited (09811856), Wellesley & Co Limited (07981279) and Wellesley Finance Plc (08331511). Wellesley Secured Finance Plc was established as a special purpose vehicle for the sole purpose of issuing asset backed securities and is not part of Wellesley Group.

The information contained in this website has been approved as a financial promotion for UK publication by Wellesley & Co Limited (FRN 631197) who is authorised and regulated by the Financial Conduct Authority (FCA). Wellesley Property Bonds are issued by Wellesley Secured Finance Plc (the Issuer) and is not authorised or regulated by the FCA.

Wellesley & Co Limited and Wellesley Finance Plc are registered in England and Wales and their registered office and trading address is at St Albans House, 57/59 Haymarket, London SW1Y 4QX. The registered address for Wellesley Secured Finance Plc is at 1 Bartholomew Lane, London, EC2N 2AX.

 

Require further information?
Call our customer service team on 0800 888 6001 or e-mail us on [email protected]