I've added this to sticky too but....

sistafromanothermista

Hopefully i will get a quicker response here..



Hi all, i have question (i hope hasn't already been asked)
My Husband took out a pension when he first started employment (he's now 40) which he hasn't paid into since 1999/2000 ish. He only remembered about it when we were sorting through some very old files the other day.
It's with a company called Phoenix i think. On their website it details 'cashing in' your policy but doesn't give an age.
Does the fact that this is now dormant (as in no payments have been made to it for a number of years) mean he may be able to cash it in? or does he still have to wait until 55 to do anything with it?

Thanks....

Linton

He cant cash it in until 60 even if he satisfied the requirement that all his pensions together amount to less than £18K. He could get 25% tax free when he is 55. Suggest he looks into transferring it into his current pension. This may well be a worthwhile thing to do particularly if his current pension is from his employer.

sistafromanothermista

Thanks Linton, that's as i suspected. He doesn't currently have a work pension as he is temp'ing. Can it be transfered to mine?

Linton

sistafromanothermista wrote: »

Thanks Linton, that's as i suspected. He doesn't currently have a work pension as he is temp'ing. Can it be transfered to mine?

Pensions cant be moved from one person to another except after death or divorce.