Can I cash in my pension?
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So, just to clarify, the ads I have seen online offering to buy your pension should be avoided.
I am under 40 and would like to cash in a pension worth approx - £25k0 -
So, just to clarify, the ads I have seen online offering to buy your pension should be avoided.
I am under 40 and would like to cash in a pension worth approx - £25k
Like the plague.
You can't. Unless you're terminally ill.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
Thanks, it would have been great if I could have done but I was sceptical of the claims made0
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Stone_Circle wrote: »It's most probably a very stupid question but what do you mean by "sticky?"
It means the thread is stuck, as in pinned, to the top of the board so it never moves down. Therefore it should always be seen easily.0 -
Hi Guys, new to forum (be gentle!) as I've been looking at cashing in my pension and after advice. I'm 58 and my private pension matures when I'm 60 in 14months time. I'm self-employed P/T at the moment and business is GRIM so was looking at taking pension early. My Q's - Do I have a right to get my pension early? Or do I have to have a medical reason? Its a Local Government Pension Scheme. I found the forum whilst looking at "pension loans" and I'm glad I did !!! Thanks0
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Do I have a right to get my pension early?
You have a right to request your pension early. It may or may not be granted. It will be actuarially reduced if you take it early.
More information here;
http://www.lgps.org.uk/lge/core/page.do?pageId=1024500 -
Im a serving police officer and am part of the 30 year pension scheme, i have 10 years service and due to the changes and working conditions i am looking to leave the job. The pension is looking to change in 2015 and i for one will not be signing on to a new scheme. My query is can i cash in my 10 year police pension or transfer it to a scheme i can. I am under 50 years of age also.0
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Liverpool1981c wrote: »The pension is looking to change in 2015 and i for one will not be signing on to a new scheme.
Very foolish decision - probably the worst decision you can make finacially.My query is can i cash in my 10 year police pension
No you can't.or transfer it to a scheme i can.
Fortunately no you can't as it would be an extremely bad decision.0 -
Liverpool1981c wrote: »Im a serving police officer and am part of the 30 year pension scheme, i have 10 years service and due to the changes and working conditions i am looking to leave the job. The pension is looking to change in 2015 and i for one will not be signing on to a new scheme. My query is can i cash in my 10 year police pension or transfer it to a scheme i can. I am under 50 years of age also.
you could start a new thread. But I suggest you need to speak to someone, and by that I dont' mean your union.
who have obv not explained to you that your current pension will be protected on the old terms- so no point in transferring. Onlky new contributions going forwards are ont he new terms.
And the new scheme, while not as generous, is still better than 99% of other non public service pension provision. So there is nothing you could join, paying the same money that would be even equal if not way way worse.
As said Jem said, Bad tought/decison and thank goodness fo you it is not possible.
Surely you know some recently retire POs like ones mentinned in theads here? who retired age 48 with a full pension plus lump sum who have been able to retire at that age to a french cottage bought with their lump sum?
any system that allows healthy individuals to retire w/o the need for further work at age 48 in this day and age where the life expectancy in in the late 80s must surely understand this isn't tenable for the long term?0
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