can i cash a pension

seven-day-weekend

I can't imagine why mature people would want to withdraw from their pension in order to go on holiday or have a new kitchen . Where are people's priorities? And how much do their holidays and kitchens cost, for heaven's sake?

I can understand wanting to pay your mortgage off, but not with your pension in your 30s, even if it were possible.

bendix

But that's the whole point seven-day-weekend. So called mature people are anything but. We have had two key socio-anthropological trends in the last fifty years. The first was the growth of the idea of someone else taking care of our needs - the growth of welfare dependency etc. The second is the 'me, me, me, I deserve it because i'm worth it' mentality of the last 10-15 years.

Combine those two trends and you have a population of people with 30-65 year old bodies, and children's brains.

Harry_Powell

seven-day-weekend wrote: »

... And how much do their holidays and kitchens cost, for heaven's sake?

Probably not that much, many people seem to be putting £50 to £100 per month away (probably less than they spend each month on fags, beer or wine) and yet expect to receive a pension that will allow them to retire to a villa in the South of France.

Harry_Powell

bendix wrote: »

But that's the whole point seven-day-weekend. So called mature people are anything but. We have had two key socio-anthropological trends in the last fifty years. The first was the growth of the idea of someone else taking care of our needs - the growth of welfare dependency etc. The second is the 'me, me, me, I deserve it because i'm worth it' mentality of the last 10-15 years.

Combine those two trends and you have a population of people with 30-65 year old bodies, and children's brains.

Not all of us Bendix

Some of us were raised to be responsible and independant by our parants instead of being mollycoddled. I often laugh on here when I read posts from ordinary working class people who refuse to have a pension because they want to "leave a legacy for their children". Their 'children' will be in their 40's when the legacy arrives and the parents will have spent their golden years in poverty in order to have supplied it. Crazy.

seven-day-weekend

Harry_Powell wrote: »

Probably not that much, many people seem to be putting £50 to £100 per month away (probably less than they spend each month on fags, beer or wine) and yet expect to receive a pension that will allow them to retire to a villa in the South of France.

:rotfl::rotfl:

We actually DID purchase the little 'ruin' adjoining our Spanish house with the lump sum from my husband's Teachers' Pension. It was 17000 euros , about £12k at he time (wish we had that exchange rate now).

moonrakerz

bendix wrote: »

Stick around and you'll see a lot worse. There was a woman on here a few weeks ago who wanted to withdraw her entire pension because she and her mate wanted to go on the holiday of a lifetime. God help us.

If you look at the number of posts I've made - I've already seen plenty !! (did miss that one though)

The sad thing is that God won't help them, but you and I will via the State and our taxes!
Who are the bigger mugs ? I wonder ......................

"two key socio-anthropological trends" - I'm impressed !

jamesey

bendix wrote: »

For the thousandth time, a pension is not a savings account that you can just dip into as and when you like. That is why yuo get tax relief on it - you can't access it until you are 55. Full stop.

As for working to pay your bills - well, welcome to the real world. It's what tens of millions of us do too.

you nasty person , i was only asking:mad:

seven-day-weekend

I think bendix was just pointing out, albeit in a rather unfortunate manner, that this question is often asked on this forum. However, as you say, you WERE only asking and that is what the forum is for.

Hope you have had your enquiry answered.

(I really think some of the posts about this should be made into a 'sticky' as it is asked so often.).

bendix

jamesey wrote: »

you nasty person , i was only asking:mad:

Yes. You asked, and I replied.

Get over yourself.

mizzbiz

Considering 'Pensions' are just another way to make insurance companies rich and you poor, I think the OP could do worse than withdraw it now and pay off his mortgage, but my only advice would be to keep on working and find another savings vehicle for pension money.

Annuities are a scandal, especially as many retiring now had not banked on losing most of their money and, thanks to annuities, being lumped with a ridiculously low income that bears no relation to the amount of money invested.

Bendix, he was only asking, and it's a valid question to which a less emotive reply may have been appropriate. Nonetheless, I agree with you in principle about those wanting to blow it int heir 30's on anholiday. This is not, under any circumstances, a good way to use your pension