Pension question thx

arnies

Hi
I have 3 private pensions that I would like to cash in.
One at £1000, another at £2000 and the last at £12000.
I am over 55 and the amount will not put me in a higher tax bracket I will pay 20%.
Is there any reason I cannot cash them in now ?
thx in advance.

Linton

You can cash them in now. Just ask your pension provider. The only difficulty could be if your pension provider does not support encashment in which case you would need to transfer elsewhere.

kidmugsy

Linton wrote: »

You can cash them in now. Just ask your pension provider. The only difficulty could be if your pension provider does not support encashment in which case you would need to transfer elsewhere.

Check the charges for cashing in. You might find it cheaper to consolidate them first. You might also find it cheaper to leave some small amount behind so that you avoid fees for account closure.