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Cashing-In Pensions
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worleyg
Posts: 3 Newbie
Over ten years ago I had a 2 -year appointment with a company that offered me membership of a company money purchase scheme. As I only stayed there for two years the fund value is small. I now have 10 years contributions in a final-salary scheme from my current employer.
Is it normally possible to unlock the cash in the small pension and get it now? I'm under 50 so does this make it impossible? I have looked at moving the contributions into the final salary scheme, but the cash would be more beneficial now.
Is it normally possible to unlock the cash in the small pension and get it now? I'm under 50 so does this make it impossible? I have looked at moving the contributions into the final salary scheme, but the cash would be more beneficial now.
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You can't cash it in until at least 50 afaik, and then it's only 25% of it that you can do.
But others will be along soon who will know more.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
It will be age 55 from 2010 but is currently 50.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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