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cashing in your pension
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EdInvestor wrote: »Perhaps the OP is referring to "pension liberation". But this is illegal and will eventually result in loss of almost all the pension.
http://www.thepensionsregulator.gov.uk/pdf/pensionLiberationFactsheet.pdf
This is not the same as "pension unlocking", which enables you to get 25% tax free cash from your fund plus an income from age 50, earlier than the scheme retirement age.This is legal but carries the risk that your pension will be cut substantially.On the other hand, it is possible that your pension could rise if income drawdown is used.
The OP really needs to clarify what he has in mind.[What does OP mean???]0 -
OP = Opening Post or Opening Poster or Original Poster, i.e. you!(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0
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