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Personal Pension "too small to purchase annuity"

Krisp_3 · 2005-04-21 08:32:26

I got home last night to find that my partner's dad is having a little financial tussle with the financial adviser that brought a group personal pension scheme to his old firm. The scenario is a steel firm in Yorkshire (so no financial experts!). The company decided to set up a group personal pension scheme and the…

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Pal Posts: 2,076 Forumite

25 April 2005 at 10:49AM

Unfortunately we have to wait for the regulations before being able to answer that one.

Depending on his age, £3000 might fall below the current £260 p.a. limit, meaning that it could be taken as cash under the current trivial commutation rules.

Krisp should contact the provider to ask whether this would apply.

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Personal Pension "too small to purchase annuity"

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