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stupid question

saintdan76
saintdan76 Posts: 7 Forumite
in Pensions, annuities & retirement planning
Hi folks,

I had a company pension through Norwich Union which I had been paying into for about 10 years. I have recently got a new job & have not transferred it or done anything to it yet.

My stupid question is can I gain access to this cash now, even if I have to pay a release fee. I am 30 yrs old & like I say have been paying into it for about 10 years. I have a few things to pay off & the cash would come in handy.

Thanks

Daniel

Comments

  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    Not until you are 55 unfortunately, and then only 25% in cash plus an annual income.
    Trying to keep it simple...;)
  • dunstonh
    dunstonh Posts: 120,322 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    The old NU occupational pension was final salary and given your work time with them, that is the one you were probaly in. Its a very good scheme and you wouldnt want the money out of it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
This discussion has been closed.
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