Pensions are vital in the UK for saving till retirement and the Government advise every|extremely|reallyone to have at least one early pension to ensure they have a suitable income when they retire.An estimated ?27 billion shortfall exists in todayarkansas single|individual parent scholarships market between what people should be saving in their early pension and what is actually being saved.To combat this the Government encourage people to open up their own early pension account either with their employer or as a private pension and have even introduced new pension legislation regarding employer pensions and is known as a NEST pension.Traditionally an early pension is only taken upon retirement, many|but a majority of|but some, there are circumstances that an early pension may be taken by an individual (these circumstances should be discussed with a qualified financial adviser to ascertain if they would be appropriate or not) and they can allow them to have direct access to their pension benefits before their actual retirement date. What is an Early Pension?An early pension is the process whereby you are able to take benefits from your pension earlier than your expected retirement date.Such benefits may be taken as a 25% tax free cash lump sum (and then reinvested in a new pension scheme) or even the taking of an annuity. if|if|in case|if in case|if it turns out, you may not take early pension benefits from a pension scheme you have already taken full benefits from (known as crystallisation) or from a State pension. It is the|and the worth noting that some final salary schemes |additionally women mbt shoes , do not allow you to take an early pension and it is worth enquiring with your scheme whether they do or not.Another limit that applies is that you cannot take early pension benefits before you reach the age of 55. This has changed from the age 50 rule that was in place prior to April 2010 so if you were expecting to take your benefits before the age of 55 you will now need to wait a little bit longer to take an early pension.Early PensionIf your early pension scheme is not restrid by any of these limits and you are of appropriate age then you should be ok to take an early pension.It should be noted |but|nevertheless ,|nonetheless mbt sandals clearance ,|yet ,|nevertheless|still, that pensions are designed to meet your requirements at retirement and the Financial Services Authority suggest that you should think carefully before taking an early pension as it could red uce your income at retirement and |for that reason|so is only suitable for a limited number of people and circumstances.If you do feel taking an early pension or early pension release as it is known is right for you then you should contact an appropriately regulated IFA to seek advice on how to proceed.Aticles Links：

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