doody60

doddy60

Hi,I have a comps pension that pays the magnificent sum of approx £43 a month (I'm 60), but a pal who moved to Thailand, informs me that he sold his and received £25000 lump sum, Is it possible to do this here?

ffacoffipawb

doddy60 wrote: »

Hi,I have a comps pension that pays the magnificent sum of approx £43 a month (I'm 60), but a pal who moved to Thailand, informs me that he sold his and received £25000 lump sum, Is it possible to do this here?

No.

(Once in payment I don't think it can be commuted on grounds of triviality.)

dunstonh

(Once in payment I don't think it can be commuted on grounds of triviality.)

Technically, the rules now allow it to be "undone" and recalculated under triviality but very very few schemes will allow it.

doddy60

Thanks or taking time out to reply, but I'm still in the dark as to what can be done about it. Iv'e just had another phone call from my pal in Thailand, who apologises,and tells me (after advice) it can only be done if you have emigrated!!.. does that mean that I'm consigned to getting £43 a month instead of a possible lump sum.

EdInvestor

doddy60 wrote: »

a pal who moved to Thailand, informs me that he sold his and received £25000 lump sum..

This can't be related to triviality, the amount is too high.Perhaps something to do with QROPS? (Google for info).If so, it only applies overseas.