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Trivialty payment
catford
Posts: 1,114 Forumite
Hi,can one of you pension experts enlighten me ?;)
I had 2 very small pension plans but due to redundancy, had to release the cash in them and take a small pension.
I get £28 pm from them and as I'm 60 soon I wanted to use the rest of the funds now,but have been told that I can't do that as I've already taken some.:eek:
I'm sure they are right but is there any way round this.??:D
I had 2 very small pension plans but due to redundancy, had to release the cash in them and take a small pension.
I get £28 pm from them and as I'm 60 soon I wanted to use the rest of the funds now,but have been told that I can't do that as I've already taken some.:eek:
I'm sure they are right but is there any way round this.??:D
0
Comments
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Once you crytallise benefits you cannot do triviality. In English, that means once you take the lump sum or commence the income you have made your decision and cannot change it.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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