Old Tiny Pension Pot

DD92

I have an old pension from a few years ago back when auto enrolment came in and I was on 15k a year so the pot is tiny now (about £500-700) had a couple of new jobs since so just looking to tidy up my various pensions.

This old pension though is going to be insignificant if I put it into my current pension (I've joined an outrageous defined benefit civil service pension scheme) and would actually be much more use to me as cash in hand now as I'm buying a house. I'm 95% certain the answer is no but is there a way of cashing out this pension? Wondered (wishfully) if there was some sort of loophole or work around for something like this.

Dazed_and_confused

Assuming it really is a "pot" (defined contribution not defined benefit) then you should have no problem cashing it in.

As soon as you turned 55 you could have done it

Silvertabby

And if you are not yet 55 then, no, you can't cash it in. Anyone who says 'yes, there's a little known loophole...' is a lying scambag (Not that any of these boys would be interested in your little pot).

Transferring it to your new CS scheme would probably be your best option.

Albermarle

You could just leave it where is and when you have more spare funds , start to add to it directly yourself. You will get tax relief and you could end up with a more substantial pot at a later stage.
Many people on this forum use these DC pots to bridge the gap between retiring early and receiving the DB pension.