Old pensions

DAZ1974

Hi, I have a pension that i have not paid into since 1996 and wondered if anybody knew if i could claim it back and if so how to go about it or have i lost the money forever?

Your help will be most appreciated

dunstonh

You have not lost the money forever. Its in the pension until you retire.

You cannot access the pension early. The Govt gives pension tax relief on contributions and tax free growth on them to aid retirement provision. Not to take out before then.

DAZ1974

Thank you for replying to my enquiry.

I appreciate your advice, so i take it i can`t access the money but it is safe and invested for my retirement?

Once again thank you for your advice.

Daz

dunstonh

so i take it i can`t access the money but it is safe and invested for my retirement?

Its as safe as your investment. Investment have different risk levels and can go down as well as up. It may just be worth checking how yours is invested to make sure it fits your investment risk profile.

DAZ1974

Many thanks for your help, It`s much appreciated. I will look into it.

Thanks,

Daz:money:

Grandmama

I claimed pension from the NHS when I turned 60 last year. I had only paid in for 4 years and left the NHS in 1989. I got a lump sum and a pension which with inflation is not far off what I earned in 1980's!
I also tried to claim from the civil service (1960's) but did not get any as I left before things changed in 1972.
The rule is ask and you may get, don't ask and you get nothing.

dunstonh

I claimed pension from the NHS when I turned 60 last year. I had only paid in for 4 years and left the NHS in 1989. I got a lump sum and a pension which with inflation is not far off what I earned in 1980's!

What you did was take benefit crystallisation at retirement. That is very different from asking about cashing in a pension.

You can take benefit crystallisation after age 50 (55 from 2010) and you can excercise triviality options after age 60 on small pensions but at no point in a pensions life can you cash it in.