We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

55 ?

Options
I have recently found a old pension, from a company i had not really worked too long for any way i have under 2,000 in it, do you have to wait until your 55 to do anything about cashing it in, as its not a huge amount and not to sure what to do with it, i have other pension running at the moment that i use.

ta 

Comments

  • molerat
    molerat Posts: 34,582 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 27 October 2020 at 1:16PM
    You cannot access the pension under age 55 except in a few exceptional circumstances.  You may have the option to transfer it elsewhere depending on the type of pension and who it is with.
  • Albermarle
    Albermarle Posts: 27,875 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    If your current pension is a standard DC scheme ( not a final salary scheme ) then you could just request that they transfer the old pension in.
     
  • garmeg
    garmeg Posts: 771 Forumite
    500 Posts Name Dropper Photogenic
    If your current pension is a standard DC scheme ( not a final salary scheme ) then you could just request that they transfer the old pension in.
     
    Even if the current pension is final salary (unlikely, but you never know) it is still possible to transfer in.

    This is something I did many years ago.
  • LHW99
    LHW99 Posts: 5,236 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    garmeg said:
    If your current pension is a standard DC scheme ( not a final salary scheme ) then you could just request that they transfer the old pension in.
     
    Even if the current pension is final salary (unlikely, but you never know) it is still possible to transfer in.

    This is something I did many years ago.

    Although there is sometimes a time limit, after joining a company, to arrange a transfer in to a DB
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.