Frozen Pension Options
Many people rely on their pension to retire comfortably into old age. The pension can help cover expenses and provide a means to explore and enjoy what life has to offer. That is, until the pension is frozen. While many people care not to think about it, there is a chance that your pension may be frozen. Something can happen to the company you’ve worked for, creating a need to freeze your pension as a result.
For many people, this is heartbreaking. Without a pension, there is a chance of accumulating debt while trying to make ends meet. With no clear time given for when a pension will be unfrozen, many people will suffer from the anxiety and worry of not knowing.
If your pension has been frozen, then you will want to know what your frozen pension options are. With that in mind, we have created a list below that will provide you with a start as you begin to learn more about the process behind getting frozen pension release. Remember, there is a great deal of advice from helpful people out there and you are not alone.
What are your options?
If a company is still solvent and has frozen pensions for a less then legitimate reason, then consider contacted your elected officials to make them aware of what is going on. Surprisingly enough, some companies can be shamed into restoring their pensions for past employees. Either way, making your elected officials aware helps start a process that can lead to positive change.
Hiring a team of professionals can be an effective way to scare companies into unlocking your pension. More often then not, a company would rather unlock your pension then pay the fees associated with bringing this to trial.
When your pension is frozen, it is easy to feel alone. Do not let this get to you. Reach out to online forums and communities. This happens more often then people realize, and online communities have formed around providing help and resources to those looking for it.