Cashing In My Pension.

nickbrat

Hi

I have ap ension worth about £1700, i haven't paid into it forwhat seems like decades now and the latest statement i recieved shows that i will recieve £25 a year on retirement.

Obviously £25 a year isn't going to keep me in the lap of luxury so i'd like some adive as what i should do with it. I don't intend to pay anymore into it as i have a great Police Pension.

Can i cash in a pension? I believe i could get about £700 if i was to do so. This would pay for next years holiday flights so i would consider doing it.

Asi say its not worth much so i'd rather make use of the money now in some way.

Lavendyr

You can't cash in a pension until you reach 50 (55 from 2010) - sorry.

Cook_County

You may be able to transfer it into your police pension fund once you know if it has any guaranteed benefits and the current charges on the plan.