They wont let me have my pension!!

jonana

Hi

I hope someone can help me with this.
My partner has an old pension with a company he worked for years ago, (2k) which we could really use right now.
But the pension company who have it have told him he can no longer withdraw the money as its over 2 years old. It was paid into by himself and his company. They've said he can transfer it to another company if he wishes.
Is there any way he can get his money back?

Many thanks in advance
Desperate in Dorset!!

kitchen_buff

Sorry but they are correct. it is FSA rules not to refund if policy is two years old or more.

Andy_L

If he is old enough to retire (50 increasing to 55 sometime soon) and that is the only pension he has he may be able to get the cash under something called "trivial commutation"

dunstonh

trivial commutation can only apply from age 60 now.

Andy_L

"may" what am I ?, some sort of IFA? :-) The "D - Man" is right & I was living in the past/being a numpty