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Pension Advice
packmanuk_2
Posts: 223 Forumite
I have a couple of pensions which i'm no longer paying money into.
Is it possible to do anything with these funds such as put the money into property or must I wait until i'm 55 to access the money (another 16 years) ?
Any advice would be appreciated.
Is it possible to do anything with these funds such as put the money into property or must I wait until i'm 55 to access the money (another 16 years) ?
Any advice would be appreciated.
0
Comments
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Is it possible to do anything with these funds such as put the money into property or must I wait until i'm 55 to access the money (another 16 years) ?
You can put it into property funds but that would be an interesting choice given the problems the property sector has.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 -
So I can move thje money and for example use it to buy a flat to rent out ? Could this be done with a property in the uk and abroad ?0
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pension funds are not allowed to buy residential property directly.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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So can I buy a property and then rent it out ?0
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No. That would be a residential property. Not allowed.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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What about buying abroad ? If not is there any kind of property I can buy ? Can I put the money into a business venture ?0
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There is limited scope around some French properties but that would be a risk as that is likely to be outlawed and those who have done it will face penalties. Commercial property is fine provding it meets with trustee approval. In reality though its only your own business that could see a benefit. Im not sure its ideal or cost effective to be much use for investment purposes.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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So can I use my fund to expand my business ? I run a tennis academy and would like to add a gym facilty. Is this possible ?0
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