Release some funds in pension

Jason_clark

Been told by pension company I can’t release any funds till age of 55 is this true?,as need to clear some credit card debt thank you

Sea_Shell

That's right, no access until 55. (there might be in very extreme circumstances, but not generally) How old are you now?

If you're struggling with a debt, then best head over the to Debt Free Wannabe part of the forum and post there, as you'll get loads of help and support.

tacpot12

Be aware that any company that says they can help you release funds from your pension before you are 55 is scamming you. They will take your money and leave you with a tax bill.

Paul_Herring

Jason_clark wrote: »

Been told by pension company I can’t release any funds till age of 55 is this true?,as need to clear some credit card debt thank you

It might even be 57 if you were born after 1973.

MEM62

Jason_clark wrote: »

Been told by pension company I can’t release any funds till age of 55 is this true?,as need to clear some credit card debt thank you

At the risk of stating the obvious, the clue is in the title. A 'pension' is to provide for retirement - no clear debts during your working life.

You need to find another way of addressing your debts. Post an SOA up on the DFW board and you will receive the advice of some very smart and well respected individuals.