Release my Pension - How do I release my pension?

The first step towards a pension release is to find a suitably qualified financial adviser. Releasing a pension requires the advice and assistance of either an independent financial adviser who is a pensions specialist, or a pension release consultant who is qualified to give pensions advice. Giving pensions advice is regulated by the Financial Services Authority (FSA) and The Chartered Insurance Institute Certificate in Financial Planning (1 - 5), is a minimum requirement for an adviser to deliver pensions advice unsupervised.

A pensions adviser will work with you to help you understand the details of your existing pension scheme(s) and obtain a detailed understanding of your personal objectives and circumstances. They can then explain the options available to you and any advantages or disadvantages of releasing benefits from your pension now.

A personally recommended pensions adviser is ideal, but if no-one can recommend one to you, there are helpful websites such as www.unbiased.co.uk which enable you to find local, professional advice. Just choose the service you need, tick your requirements and they send you details of appropriate, qualified advisers close to your home or office.

Take the time to meet with two or three advisers to find one you are comfortable with, you are going to need to talk to them in detail about your personal and financial circumstances so it's important you have a good personal relationship with them. Most advisers will be happy to give you an initial half hour consultation for free. When you meet them take the opportunity to ask them about:

Alternatively there are several online companies who specialise in pension releases and who can put you in touch with their own qualified advisers. Just doing an online search using the keywords "pension release" or "pension unlocking" will bring up several companies. These types of online pension release advisers won't necessarily be 'independent' as they may have a limited number of pension release scheme providers they regularly use, but because they are specialists they are likely to have a high level of pension release expertise. These companies offer free, no obligation advice and only charge for their services if you decide to go ahead with the pension release through them.

Unlocking your pension can have far reaching impacts on your financial future so taking the time to find an adviser you can trust, and who has the appropriate qualifications to assist you is essential.