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frozen pensions
winstonmutley
Posts: 1 Newbie
My husband and I have two frozen pensions, we are unable to contribute to these at present. The transfer value of each is around £2,500. I want to know what I can do with them I know we are unable to cash them in, but could we put them towards a mortgage???
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Comments
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I want to know what I can do with them I know we are unable to cash them in, but could we put them towards a mortgage???
No. That would be the same as cashing them in. Only when you are over 60 and the value is less than 1% of the lifetime allowance can you consider trivial commutation (cashing in small fund values).we are unable to contribute to these at present
Nearly everyone can contribute to a pension. Non earners, children, retired can all pay upto £3600 a year into a pension.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.0
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