Taking money out of a tiny pension

Sam_G

Hi all,

I'm in my early 20's and currently have 2 pension schemes open. One is a civil service one from the job I'm in currently which I've been paying into for 4 years now. The other is a Scottish Widows pension which I had from a small private firm who I worked for for 4 months before starting the job I'm in now. Because I only had it for 4 months it only has £130 in it. I don't believe there's any way of me being able to merge this with my CS pension due to the way it works so I wanted to know if there was any way I could just take this cash sum out of this old pension. It seems pointless to keep as it's going to be worth sub £1 a month (or that equivalent value) when I get to retirement age eventually.

I don't care if I have to take a hit on it and loose some to get the rest out, the way I see it it's worth nothing to me there so every penny it's worth in my pocket is a bonus! Can anyone recommend how I go about doing this, or even if it's possible?

Many thanks,

Sam

Brynsam

Not possible to take cash, Sam, given your age - but you should be able to transfer it to the AVC arrangement of your CS pension. See https://www.civilservicepensionscheme.org.uk/members/civil-service-added-voluntary-contributions/additional-voluntary-contributions/