Quick question...

flower_chops

About 3 years ago I worked for a company and had a pension through Scottish Equitable through them. I had a letter the other day from them and to be honest had entirely forgotten about it! I have £450 in there (of which I would have paid in around £300). I haven't worked for the company for a few years and until my debt's paid off and I have some money after having children, have no plans for a pension yet. So, I'd like to get a refund on this money sat there to pay off a little of my debt...is this possible and how would I go about doing it?

Sorry if this is a bit basic or stupid sounding, I really don't have a clue about pensions!

dunstonh

So, I'd like to get a refund on this money sat there to pay off a little of my debt...is this possible and how would I go about doing it?

You cant access the money until age 60 and then only if your total retirement plans are valued at less than 1% of the lifetime allowance (currently 1% of 1.5mill = £15,000).

flower_chops

Lol! No worries! Was only a thought - bless my little £400 sat there until I'm sixty - I could probably do a weeks shopping on it in 2049 when I'm 60!