SERPS....what does that mean?

Loanranger

If you have no other pension provision, should you be cashing in the HSBC pension?

MrsGJM

Thank you so much for all the information... You have been a great help.

I don't envisage a long retirement as I have severe COPD, so I shall probably just work til I drop!

Being able to access the HSBC fund would be a nice boost though ��

Thank you all, again... Great site!

MrsGJM

Loanranger.... Probably not, but as it's such a small amount, will it really make a great deal of difference? I don't know how pensions are paid out.

xylophone

It is likely that the pension managed by HSBC is available from age 55.

https://www.pensionwise.gov.uk/?gclid=CMuUr5XTwdECFYUp0wodf34NoQ

You can contact them to enquire about the options available.

You are currently employed - is there a workplace pension?

MrsGJM

Xylophone... Thank you. Yes I do pay into an auto enrolment pension through work.

xylophone

Yes I do pay into an auto enrolment pension through work.

In which case you won't be living on just £155 a week....:)

MrsGJM

Good to know

GunJack

something else to consider - would your current workplace pension benefit from transferring in the old hsbc-run fund if possible?

missile

MrsGJM wrote: »

Xylophone... Thank you. Yes I do pay into an auto enrolment pension through work.

I would suggest you ask your employer's pension administrator (usually the HR Department) to provide an estimate of your workplace pension entitlement.

Loanranger

GunJack wrote: »

something else to consider - would your current workplace pension benefit from transferring in the old hsbc-run fund if possible?

Excellent suggestion.