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Minimal Aviva pension payout?
Alexaxx12
Posts: 3 Newbie
Hi all,
I worked for Norwich Union (now Aviva) for about 3m in around 2003. I signed up to their pension scheme and still receive quarterly statements from them. This pension is currently worth £246.56, and I'm apparently going to get £12 a year in 36 years when I'm 68!
My question is whether I can cash this in now and just take the £246? I have been paying into a decent civil service pension since leaving NU so i don't really need the £1 a month it will pay me!
Please excuse my ignorance if I can't, I'm really not clued up on these things.
I worked for Norwich Union (now Aviva) for about 3m in around 2003. I signed up to their pension scheme and still receive quarterly statements from them. This pension is currently worth £246.56, and I'm apparently going to get £12 a year in 36 years when I'm 68!
My question is whether I can cash this in now and just take the £246? I have been paying into a decent civil service pension since leaving NU so i don't really need the £1 a month it will pay me!
Please excuse my ignorance if I can't, I'm really not clued up on these things.
0
Comments
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My question is whether I can cash this in now and just take the £246? I have been paying into a decent civil service pension since leaving NU so i don't really need the £1 a month it will pay me!
no you cant. However, you could transfer it to another pension if you wish to consolidate.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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