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Pension query
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This discussion was created from comments split from: Transferring pension pot.
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Why carnt I cash in what is left on my pension. We didn't have the choice when I retired, and what I receive each month is very little. Thanks0
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Suggest you start a new thread.Bette21 said:Why carnt I cash in what is left on my pension. We didn't have the choice when I retired, and what I receive each month is very little. ThanksGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
I have split this out into a separate threadI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
You will need to supply a lot more information on what sort of pension it is? Defined benefit or defined contribution? Who is it operated by?Bette21 said:Why carnt I cash in what is left on my pension. We didn't have the choice when I retired, and what I receive each month is very little. Thanks
what exactly would you like to do?I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
If you have a pension with a fund value, then you probably can. if you no longer have a pension and bought an annuity with it then you cannot.Bette21 said:Why carnt I cash in what is left on my pension. We didn't have the choice when I retired, and what I receive each month is very little. Thanks
Drawdown has been available for a few decades. The 2015 changes just opened it up a bit more. However, on the flip side, annuity rates in the past were much better.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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