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cashing in a sportsman pension
toldlad
Posts: 7 Forumite
not as good as thread sounds.
i was a pro rugby player for around six years way back , i got injured and had to retire.
i paid into a sportsman pension , i could claim the pension at 35 but decided to leave it till 55 .
my question is that I could really do with the money out of this old sportsman pension I have .
is there any chance I could draw it down now ,with being able to claim it at 35 before
.(im 48) .
i have another works pension so thats covered and a cpl of renters so i am ok for the future.
But i could really do with getting the money out of the sportsman pension if poss.
any help info or opinions would be grateful
i was a pro rugby player for around six years way back , i got injured and had to retire.
i paid into a sportsman pension , i could claim the pension at 35 but decided to leave it till 55 .
my question is that I could really do with the money out of this old sportsman pension I have .
is there any chance I could draw it down now ,with being able to claim it at 35 before
.(im 48) .
i have another works pension so thats covered and a cpl of renters so i am ok for the future.
But i could really do with getting the money out of the sportsman pension if poss.
any help info or opinions would be grateful
0
Comments
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Depends if your old scheme conferred a 'protected pension age' on you in terms of the benefits from that particular scheme - and it sounds as if it may well have done at a time when rugby league and rugby union players (amongst others) could draw their pension from 35. Contact whoever is responsible for administering the scheme and check with them - certain other conditions may apply depending on the rules of your scheme, but that's the only way to be sure. Nobody here can give you a definite answer.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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when I turned 35 my financial advisor moved it to another fund as I didn't want to take at that time , I signed a form for the new pension company saying ideally I would like to take it at 55 . will it be stuck till then now or will I still be able to get access too it0
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think its with aegon .0
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If the protected age was retained on transfer then it should still be there. If not, then it will be 55.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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there is a web page that gives free advise , sorry forgot its name but someone on here will know0
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pauline123456 wrote: »there is a web page that gives free advise , sorry forgot its name but someone on here will know
TPAS - but they give generic information, which is no help here. As previously suggested, OP needs to contact the pension provider where the funds are now (why so reluctant to do that?) to be sure - or read Aegon's web page, assuming he can plough through the jargon: https://www.aegon.co.uk/support/faq/pension-technical/Protected-pension-age.html
Much easier to contact Aegon and ask.0 -
pauline123456 wrote: »there is a web page that gives free advise , sorry forgot its name but someone on here will know
You mean guidance. Not advice.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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