The vast increase in the cost of living which is being both subtly ( via the local council and the treasury) and unsubtly ( prices on everything from fuel to condoms on the up) passed on to the working classes - by that I mean those who work - is starting to have an huge impact on society here in the UK.

The dangerous trend of late has been to build up large debts, with the average salaried worker in the UK having to pay some 60% of their wage packet out on debts, council tax and mortgage payments.

Increases in interest rates, house price falls and the actions of the lenders to mitigate their potential losses in the face of recession by withdrawing credit are all conspiring to cause great problems to many people.

Is there a solution one must ask oneself in the face of such outrageous fortune?

Well, just make sure that you are not overstretching yourself, that is all. Try to be a bit frugal and more than anything else try to reduce your obligations. Seek out the very best rates on all your borrowing. Remortage or look to go interest only for the near future and try to pay off your cards, then tear up the evil temptors that they are.

But, above all else. Enjoy yourself, its later than you think.

Pension Regulators have recently changed the way in which pension release applications will be handled, In particular the eligibility for pension unlocking. From April 2010 ( that is under two years away), the age at which you can apply for pension release will go up to 55, from 50.

This means that anyone currently between the ages of 50 and 53 who are considering releasing money from their pension, be it an occupational or personal pension, should think about finding out as much information as possible as soon as possible to prevent a delay should they wish to release their pension at a later date.

Pension release is a process not suitable for the majority of scheme holders as in most cases you will see a far smaller return on investment than had you waited until the policy’s maturation date.

However, should you have a stable financial base and wish to unlock some cash from your pension for a bit of fun, to help out a family member or to pay off debts it is an avenue worth exploring.

Further information is available at Grove FP Pension Release Information and what is more their website is one of the most beautifully designed sites ( Martin Taylor ) I have ever seen.

If you are a UK resident aged between 50 and 55 considering releasing cash from your pension you would be well advised to initiate proceedings sooner rather than later.

New guidelines introduced recently have stipulated that the age at which you can apply for a Pension Release will increase to 55 in the year 2010.

 In effect this means that is you are aged 50 now you are able to apply to unlock your pension, whereas after April 2010 if you remain under 55 this option will no longer be available to you.