Pension Access

Pension Access: pension advice from age 55

Pension Access is the trading name of Harbour Rock Capital Limited, a company registered in England and Wales with number 10290349 and authorised and regulated by the Financial Conduct Authority (FCA) with number 754580. Its activity focuses on financial advice on the options available to access retirement savings from age 55, an area known in the UK as pension freedoms.

The service is aimed exclusively at UK investors subject to the UK tax regime. The firm warns that tax treatment depends on personal circumstances and may change, and stresses that accessing pension money early is not right for everyone, as it can reduce the income available during retirement.

Ways to access pension savings

The website organises its offering around several ways of drawing on accumulated funds:

• Tax-free cash withdrawal: the option to take up to 25% of the capital without tax.
• Pension release: releasing money from the pension before the normal retirement age.
• Drawdown: flexible withdrawal of funds, keeping the rest invested.
• Lump sums: one-off withdrawals of capital.

The company does not advise on the state pension or on pensions from which an income is already being received.

Three-step process

The procedure described by the firm begins with a no-obligation check. The client completes and returns a form authorising Pension Access to check their pension. The team then gathers and analyses the necessary information about the client and their pension plan. Finally, the company provides a report with its recommendation, and the decision rests with the individual. If they choose to change their pension, including releasing funds, Pension Access handles the administration and confirms the cost of the service in writing.

The initial investigation is free of charge and advice fees are confirmed in writing before the client has to decide whether to proceed, so they can walk away without paying anything.

Remote service and telephone support

Unlike many financial advisers, Pension Access operates remotely: most matters are handled online, by email or by post. For queries that require a conversation, it has a team of pension specialists available by phone Monday to Friday, from 8:00 to 16:00.

Client protection and fraud prevention

The firm stresses the importance of using only advisers authorised and regulated by the FCA. Among the safeguards it highlights are access to the Financial Ombudsman Service if the advice proves unsuitable, the exclusive recommendation of pension product providers also authorised by the FCA, and cover under the Financial Services Compensation Scheme, which allows up to £85,000 to be recovered if the pension provider fails.

Free information material

Pension Access offers a free information guide on the implications of taking tax-free cash from a pension. The pack includes a pre-paid envelope and a consent form so the company can access the details of the applicant's plans. The firm states that it may send updates by email or text message and that a specialist may call to answer questions, although it says it avoids persistent calls. Telephone conversations are recorded for regulatory, legal and training purposes.

Company and contact details

Harbour Rock Capital Limited is registered in England and Wales with number 10290349 and has its registered office at Affinity House, Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FD. The firm operates under the Pension Access brand and its activity is aimed at the UK market.

Affinity House, Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FD · Telephone: 0800 009 3388 · Email: pensionaccess@harbourrockcapital.co.uk