Police pension can i cash it in

le_loup

Liverpool1981c wrote: »

Thank you for your responses however i am aware of my job and the pension in its current form,

You seem grateful for the responses ... but have you actually read them? You need to.

dunstonh

however i am not willing to move to the new pention when its created.

despite it being a pension that most people in the UK could only dream of having.

Liverpool1981c

What pensions schemes can i transfer this to?

dunstonh

What pensions schemes can i transfer this to?

Other pension schemes that will accept transfers. However, all will require an IFA to sign off on the transaction and I doubt you will find an IFA willing to sign off on it. That sign off is designed to stop people doing stupid things and transferring it would be stupid.

sleepless_saver

What usually happens with changes to pension schemes is that the pension you have already accrued under the existing rules is not affected by the change.

It is only contributions from the time the new scheme comes in that are subject to the new scheme conditions.

So unless the police pension is being changed retrospectively your pension for up to 2015 will be the same as you signed up for when you started with the police i.e. probably the best pension scheme in the UK.

Proxy

Liverpool1981c wrote: »

What pensions schemes can i transfer this to?

Why aren't you reading the responses?

RichandJ

Proxy wrote: »

Why aren't you reading the responses?

Because they aren't what he/she wants to hear ?

molerat

Liverpool1981c wrote: »

What pensions schemes can i transfer this to?

Cashing in is not an option and transferring would be foolhardy. The only ones that would likely come remotely close would be NHS, CS, Fire Service, Teachers or LG, none of which would be as good. Keep it where it is to build up nicely until retirement time.

llTAYLORll

with the pension reforms i have been advised of i will now have to work a further 30 years, having worked 10 all ready.
30 years of paying into the new pension SHOULD be more than adequate for a comfortable retirement.
So i will be considering whay do do with my pension thus far. Why can i not withdraw my money from the pension?
If not because it is my money to do with as i wish, then with it not performing as i was told (even promised) that it would then it is a mis sold financial product. Isnt it?

dunstonh

Why can i not withdraw my money from the pension?

because it is a pension not a savings account.

If not because it is my money to do with as i wish

Its not your money. It is a package of benefits.

then with it not performing as i was told (even promised)

It is doing exactly what you were told it would.

that it would then it is a mis sold financial product. Isnt it?

Of course it isnt.

Do you use the same deductions when investigating crimes. i.e. ignore facts and just make things up to suit your opinion?