armed forces pension

fighter847

I am looking to sell my armed forces pension, but am not to sure how to go about it. Is this a good idea and does anybody have any advice:)

jem16

fighter847 wrote: »

Is this a good idea and does anybody have any advice:)

No it's not a good idea and you can't do it anyway.

McKneff

fighter847 wrote: »

I am looking to sell my armed forces pension, but am not to sure how to go about it. Is this a good idea and does anybody have any advice:)

What makes you think you can sell your pension.

A pension is just that, money put away for your retirement.
Once you put money into a pension it doesnt belong to you anymore, It is put into trust for a pension.

Its not a savings account.
You cant access it until you are at least 55, then only 25% of it.
The rest is for an annuity either then or later.

Starrystarrynight

It's a non contributory pension, too, if I remember rightly. Not even sure that you could even transfer it into another pension fund never mind sell or cash it in.

gobezza

Starrystarrynight wrote: »

It's a non contributory pension, too, if I remember rightly. Not even sure that you could even transfer it into another pension fund never mind sell or cash it in.

You can't transfer it at the moment due to the government putting a halt on Public Sector scheme valuations but should be able to in the future.

bigjl

I know several people that have transferred an Army pension into the NHS pension scheme, so hopefully when the government starts valuations again you can transfer and build up a bigger pension.

Loughton_Monkey

Leaving aside the most ignorant and offensive post [from 'Alps'] I have ever seen, I have to say that selling a pension is impossible.

[Edit]: I note that the offensive post has been removed. Good.