selling army pension - is it possible?

deacon1000

Hi Guys

I am leaving the army after 17 years and have been told that i can sell my pension fund. Does anyone know if this is possible before I am 50? Really need cash now to set up new business. Thanks for your help

dunstonh

I am leaving the army after 17 years and have been told that i can sell my pension fund.

No you cant.

You cannot sell it before and you can not sell it after. Technically it is not yours to sell. You may be able to transfer the pension and use the value to aid purchase of a commercial property in relation to your business but thats about the only use it can be (and that will mean giving up significant benefits from the army pension).

UK007BullDog

The Army allows you to take a lump sum out, at least it used to when we left. We used ours to buy our house.

But if the banks are not lending in this current climate i would suggest you think well and hard that this "business" is going to work. Always ask yourself why someone would wantto sell a business. The only valid reason i can see is old age or illness. Otherwise beware.

Also taking money which should be part of your pension is never a good idea.

Cat695

Are you MAD?? one of the best pensions around and your trying to get rid of it....you need to take a long hard think on this one.