cash in pension to overpay mortgage

yogiberr

hiya,

I worked in Ireland a few years ago and I now have an offer to cash in my pension.
It comes to about 1500.
I was thinking of overpaying my mortgage, which I reckon will save me about £100 per year in interest.I was wondering if this is a good idea.

Many thanks for any advice.

yogi

McKneff

Your post is a little confusing.
As far as i know you cannot cash in a pension. It is stuck there till you are 55
I suppose it depends how old you are now. But you can only take a lump sum of 25% and the rest is taken as a pension

yogiberr

Aye, you're right.I'm a bit new to all this pension stuff.
I think I'll keep it as a deferred pension benefit.

Many thanks,

yogi