Cash in Pension?

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SnowBandit
SnowBandit Posts: 3 Newbie
in Pensions, annuities & retirement planning
Simple question.
I have a sum of money in a frozen Scottish Widows Pension - can I cash it in somehow?:confused:
Age now is 44

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  • dunstonh
    dunstonh Posts: 116,376 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
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    No you cannot. If it is less than 1% of the lifetime allowance at age 60, you could consider it then.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
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    SnowBandit wrote:
    Simple question.
    I have a sum of money in a frozen Scottish Widows Pension - can I cash it in somehow?:confused:
    Age now is 44

    When you're 55 you can extract 25% of it in tax free cash (from aged 50 to 2010).
    Trying to keep it simple...;)
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