Selling pension

Mrfendi

Hi I'm 46 and have a pension that I haven't paid in to for years. Is there anyway that I can sell it on in some way? It stands at about £8,000 right now and due to circumstances I could really do with the money .... help anyone?

Many thanks,
Lee.

ex-pat_scot

Short answer: No. Sorry.
Unless you have <12 months to live (in which case you can access a pension before 55), any access before 55 will cause a tax charge of 55%.
There are a few charlatans who will suggest you can access these monies, but won't tell you that the nice HMRC chappies will catch up with you and demand the 55% (plus interest, and possibly penalties). By that time, those lovely charlatans will have taken their 35% fee and scarpered.
They might well tell you they have QC opinion that their fancy scheme is 100% legit. Sadly this never turns out to be correct, and it's too late to find out that you were misled...

Linton

No. You cant get money from a pension until you are 55 unless you are:
1 - In a profession that demands early retirement - eg professional footballer.
2 - Have an old pension with a contractual right to withdraw money early
3 - seriously ill. eg likely to die in the next year.

If none of these apply, no chance.

System

Oooh and I was going to suggest Gibraltar...