Cashing in pension???

GT60

Hi
My friends mother is getting old and thinks that she is got less then 5 years to go (the friends words not mine)
she has heard of a super annity or something like that where she can cash in her pension so her children can benefit now.
Her pension is with local gov. i have told her to go to the c.a.b.
has any one got any more advice please that i can pass on??
Thanks every one

Andy_L

As this is a final salary, public sector pension there is no option to "cash it in" as there is not a pot of money with her name on it as would be the case with a money purchase scheme
There are dependents benefits but since her children are presumably grown up and she's been retired for more than 5 years they don't apply.

dzug

There is in some public service schemes a provision that you can give up some of your pension in favour of a dependent.

It used to be exercisable at any time but a recent change says that you can only do it on retirement.

In any case I think there are restrictions on what constitutes a dependent.

I'd take expert advice but expect the answer no.

GT60

Ok thank you for that if i get more info of her i will get back