Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Early Pension Release Some Points to Be Noted

By Subscribe to RSS | April 4th 2012 | Views:

Pension, which is also referred to as superannuation or retirement plan, is defined as a financial arrangement that provides people with income after their retirement that is when they no longer work. Pension is paid through installments while severance pay is paid only once. There are three kinds of pension plans, and they are employment based, the disability pensions and the state and social pensions. The first type of pension plan, which is the employment based one, is also known as the retirement plan. It is an agreement between an employer and an employee of contributing money to a specified fund during the time of employment for the sole purpose of receiving income after retirement. This process is also considered a deferred compensation because the fund accumulates until it matures and is ready for you to claim.

You have heard the term pension release and it means that when pensions are released one gets to enjoy the benefits at the time one retires. However, there is one such thing as early pension release, which enables a person to enjoy the benefits of a pension early and is applicable for any kind of pensions except for state pensions. This early release can be triggered by many factors, which include death, an unexpected illness that will require one to stop working, or redundancy in one’s place of employment. Whatever be the reason, if any of such things happen there will be immediate cash in hand.

Generally if you are over 55 years old, then only an early pension release is applicable and when your pension fund is more than 15000 pounds. When you have this option, you can release up to the amount that is considered tax-free which is in fact 25 percent of the total value of the pension fund.

- About Author:
For more information on Pension release, check out the info available online; these will help you learn to find the Early pension release!

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Investing Articles Subscribe to RSS

Government fails to introduce satisfactory pension plan
Published by Perter Clove on January 10th 2012 | Investing
Another section of government employees has rejected to get the latest government pension scheme....
UK pension plans going wrong due to wrong choices
Published by Sandra Jeux on February 23rd 2012 | Finance
In a report by Pensions Policy Institute, it was revealed that the decision of a person about his pe...
Information related to company pension scheme
Published by Larry Ellison on January 5th 2012 | Finance
Company pension scheme is extremely beneficial for employees. It is of 2 types. Company pensions typ...
Advantages of nest pension scheme over others
Published by Larry Ellison on January 5th 2012 | Finance
Pension planning is an important part of life. One need to plan it properly for post job financial i...
No plunging of cash to plug pension gaps: Pension Regulator
Published by Bettina Azaria on May 21st 2012 | Finance
The watchdogs of pension have started a debate along with the business leaders following the order t...
Opt for Currency Options with the Help of Forex Trading Signals
Published by Kelly Wagenheim on August 24th 2012 | Investing
Currency options give the right to contract holder, to buy (that is call option) or to sell (also kn...
Know how to stay updated with natural gas news on a regular basis
Published by Kevinpieter on August 22nd 2012 | Investing
Before taking investment decision, it is very important to know about the specific company profile. ...
Natural gas investments offer unique opportunity to earn lucrative returns over a period
Published by Mano Matthew on August 22nd 2012 | Investing
Natural gas prices have gone through quite a topsy-turvy phase. Since hitting the peak phase during ...
Singapore Company Registration: a Part of Starting New Business
Published by Andrews Thomas on August 22nd 2012 | Investing
Though Singapore company registration is one of the things, which a business entrepreneur needs to d...
Getting Idea of Fixed Income Products
Published by Fixedincome on August 20th 2012 | Investing
People get perplexed about the investment policies available in the market. They must have idea of t...
A great Agency for that Consolidation Associated with Debt That's Non Revenue
Published by Shyam Singh on August 18th 2012 | Investing
When you obtain a debt administration program via DMCC you'll be assigned an avowed Credit Counselor...