Can i withdraw from my pension

Shauboyce

Hello, i have a pension that i would like of possible to withdraw some funds from..... i am 52 years old and the pension is valued at £110k is it possible to do this before the age of 55? 

QrizB

Shauboyce said:

Hello, i have a pension that i would like of possible to withdraw some funds from..... i am 52 years old and the pension is valued at £110k is it possible to do this before the age of 55? 

No, it isn't.

Albermarle

No it is not, and anybody who says they can do it for you is a fraudster,

eskbanker

In general, no, as above, but there are a couple of exceptions, as per https://www.gov.uk/early-retirement-pension/personal-and-workplace-pensions

When you can take money from your pension pot will depend on your pension scheme’s rules, but it’s usually after you’re 55.

You may be able to take money out before this age if either:

• you’re retiring early because of ill health
• you had the right under the scheme you joined before 6 April 2006 to take your pension before you’re 55 – ask your pension provider if you’re not sure

Some companies offer to help you get money out of your pension before you’re 55. This could be an unauthorised payment. If it’s unauthorised, you pay up to 55% tax on it.