standard life "with profits" personal pension...help

si1306

I started this pension when i was 19 with the company i worked for, i no longer work there and no longer pay into it, i was wondering if the with profits half of the pension (i did 50/50) involved shares and if it did could i cash that half in? I know i probably cant and the whole thing is only worth £6615 but i just dont understand the with profits side. Also are the companys like sellpensionsuk legit? Any advice and help much appreciated

Linton

A with profits fund is just an alternative to the standard funds based on shares. The company offering the WP fund has a pretty free hand in deciding its value, the process being opaque to the investor. WP funds were popular in the past but are less common now. Many have provided poor returns though a few have performed well.

If you are under 55 and not at death's door you cannot cash in any of your pension. Suggest you read the sticky thread at the top of this forum devoted to the topic.

Any company that claims to be able to "unlock" your pension is either a scam and/or could land you in trouble with HMRC who will send you a large tax bill. The process used by many such companies has recently been declared illegal.