Prudential pension

staceylouise251285

Hi all

As my employer has changed i have received a letter stating i have three options in which to choose from for the funds i have. I understand two of them but one of them states the below and i dont understand. I was wondering if anyone could help me out.

'Your plan can be made 'Paid Up' which means that no further contributions are allocated and the current units participate in the performance of your chosen funds'

This may seem transparent to some people but unfortunately not me lol.

Thanks in advance

Always_smile

Hiya,

It just means that there will be no further contributions to the pension, the pension will just sit there and rely on growth from the underlying funds.

staceylouise251285

ok thanks. Do you know if you can cash this in early or does it have to continue or be transferred?

thanks

dunstonh

staceylouise251285 wrote: »

ok thanks. Do you know if you can cash this in early or does it have to continue or be transferred?

thanks

You cant cash in pensions. They are not a savings account or savings plan but a pension.

Earliest age to access the funds is 55.