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lump sum
hullsmoggy
Posts: 1 Newbie
Hi
I have an old pension pot of £17000. Under new rules can I take the lot out now I am 55. I have a final salary pension with my present job also but if I could get hold of the other one it would pay off all my debts
thanks
I have an old pension pot of £17000. Under new rules can I take the lot out now I am 55. I have a final salary pension with my present job also but if I could get hold of the other one it would pay off all my debts
thanks
0
Comments
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Under the rules starting on Thursday - no you cant assuming your FS pension is more than trivial. The limits are £30K for the total of every pension or £10K for an individual pension. And in any case you need to be 60.
Under the rules which may start in April 2015 you will be able to take the £17K as taxed cash provided what is implemented then is much the same as currently proposed.0
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