We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Pearl ( phoenix life) prosperity pension plan with profits
itsmeeagain
Posts: 18 Forumite
I have a Prosperity pension plan with profits. This was set up years ago and to be honest I have not got a clue what to do with it
assumed pension date is 2032 with guaranteed pension fund of £3650 and transfer value of £ 5790
I could do with the cash right now so wonder if I can cash this in, from what i gather its giving me an annual pension of £140.
any advice please
assumed pension date is 2032 with guaranteed pension fund of £3650 and transfer value of £ 5790
I could do with the cash right now so wonder if I can cash this in, from what i gather its giving me an annual pension of £140.
any advice please
0
Comments
-
It can't be cashed in before you're at least 55. It can possibly be transferred to another pension provider (but you'd lose any guarantees) but no getting your hands on it until that minimum age comes around. no matter what.0
-
When [if] you do cash it in you can expect a hard sell re life insurance !
My hubby rang yesterday for a "cash in " form and was on the phone for about 30 mins. They wanted medical information and asked what he was going to spend it on . Then passed him on to someone else who pushed for him to take a massive life insurance policy out. He asked them to send info out just to get rid of them.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
When [if] you do cash it in you can expect a hard sell re life insurance !
My hubby rang yesterday for a "cash in " form and was on the phone for about 30 mins. They wanted medical information and asked what he was going to spend it on . Then passed him on to someone else who pushed for him to take a massive life insurance policy out. He asked them to send info out just to get rid of them.
Politely decline, and if they persist decline progressively less politely.0 -
They also tried to get him to agree to be referred to a 3rd party which he declined. Low and behold theres a message on the answer phone today from Retirement solutions ltd asking him to call to discuss his pension !This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
-
Phoenix have a commercial relationship with a company called Just Retirement Solutions Ltd. They are third party. So, the passing of details without permission is a data protection breach.
There is a company called Retirement Solutions Ltd but they have no connection with Phoenix.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 -
Phoenix have a commercial relationship with a company called Just Retirement Solutions Ltd. They are third party. So, the passing of details without permission is a data protection breach.
There is a company called Retirement Solutions Ltd but they have no connection with Phoenix.
Having listened to the message again it is Just retirement solutions ltd..This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.1K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.1K Spending & Discounts
- 243.1K Work, Benefits & Business
- 597.4K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards