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Nipa
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Nipa
Posts: 2 Newbie
Does anyone know if this is true, that if your private pension has been running under 16yrs and it's not very good, that you can claim back what money you have put in? Is this right?
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Comments
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No truth in it whatsoever.
If you are not satisfied with the performance and terms of your pension investments then you can change the pension investments as you or your adviser sees fit.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.0 -
I think you might be getting mixed up with the triviality rules regarding pension schemes.
If at age 55 or later the total value of your private/company pensions are less than 1% of the lifetime allowance,then you can take it as a lump sum.
That 1% equates to £16,500 for this tax year 08/09.FIRE !!!0 -
If at age 55 or later the total value of your private/company pensions are less than 1% of the lifetime allowance,then you can take it as a lump sum.
Triviality kicks in at age 60 now.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.0 -
My mistake!FIRE !!!0
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thank you to yu all0
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