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Release some funds in pension
Jason_clark
Posts: 1 Newbie
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
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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.How's it going, AKA, Nutwatch? - 12 month spends to date = 3.24% of current retirement "pot" (as at end December 2025)0 -
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.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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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.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
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.0
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