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Method or Madness? Paying off Mortgage in full with Workplace Pension

davestewart68 · 2023-01-26 21:54:45

I'm in a slightly unique situation. Later this year I turn 55 and my workplace pension pot becomes accessible. I already have a Forces Pension and I'm still working full time in a good job, I have no intention of retiring anytime soon. I have a mortgage still. I am thinking of drawing my workplace pension in full when I…

Comments

penners324 Posts: 3,712 Forumite

30 January 2023 at 10:55AM

The MPAA meand your maximum annual pension contributions will £4k....

That could be extremely costly when you come to retire

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