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Company Pensions to SIPP
inflationbuster
Posts: 254 Forumite
Hoping this is not a silly question.
I have one closed pension (company) and one running pension with my current employee. It appears both have a retirement age of 60.
If later in life l wanted to transfer both to a SIPP (assuming l retired in my 40s) would l be able to access cash from 55 onward? My reason for asking is that it appears a SIPP has an earlier retirement age and possibly a workaround to accessing my pension earlier than 60?
I do have investment experience so i'd want a SIPP to manage my pension cash.
I have one closed pension (company) and one running pension with my current employee. It appears both have a retirement age of 60.
If later in life l wanted to transfer both to a SIPP (assuming l retired in my 40s) would l be able to access cash from 55 onward? My reason for asking is that it appears a SIPP has an earlier retirement age and possibly a workaround to accessing my pension earlier than 60?
I do have investment experience so i'd want a SIPP to manage my pension cash.
0
Comments
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Depends what type of pensions they are - DB pensions are not that easy to transfer, even if its a suitable thing to do.
Also 55 is the current early access point - that may rise to 10 years below SPA in due course.
So if SPA becomes age 70 in a few years time, you won't be able to access a SIPP any earlier than the company pensions.0
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