Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Jason clark
    • By Jason clark 14th Sep 19, 6:47 AM
    • 1Posts
    • 0Thanks
    Jason clark
    Release some funds in pension
    • #1
    • 14th Sep 19, 6:47 AM
    Release some funds in pension 14th Sep 19 at 6:47 AM
    Been told by pension company I canít release any funds till age of 55 is this true?,as need to clear some credit card debt thank you
Page 1
    • Sea Shell
    • By Sea Shell 14th Sep 19, 6:55 AM
    • 2,598 Posts
    • 4,692 Thanks
    Sea Shell
    • #2
    • 14th Sep 19, 6:55 AM
    • #2
    • 14th Sep 19, 6:55 AM
    That's right, no access until 55. (there might be in very extreme circumstances, but not generally) How old are you now?

    If you're struggling with a debt, then best head over the to Debt Free Wannabe part of the forum and post there, as you'll get loads of help and support.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow " JOB DONE!!
    This should now read "It's time to start digging up those Squirrelled Nuts"!!!
    • tacpot12
    • By tacpot12 14th Sep 19, 8:48 AM
    • 2,899 Posts
    • 2,623 Thanks
    tacpot12
    • #3
    • 14th Sep 19, 8:48 AM
    • #3
    • 14th Sep 19, 8:48 AM
    Be aware that any company that says they can help you release funds from your pension before you are 55 is scamming you. They will take your money and leave you with a tax bill.
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always check official information sources before relying on my posts.
    • Paul_Herring
    • By Paul_Herring 14th Sep 19, 2:13 PM
    • 6,941 Posts
    • 3,620 Thanks
    Paul_Herring
    • #4
    • 14th Sep 19, 2:13 PM
    • #4
    • 14th Sep 19, 2:13 PM
    Been told by pension company I canít release any funds till age of 55 is this true?,as need to clear some credit card debt thank you
    Originally posted by Jason clark
    It might even be 57 if you were born after 1973.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
    • MEM62
    • By MEM62 18th Sep 19, 9:20 AM
    • 2,898 Posts
    • 2,573 Thanks
    MEM62
    • #5
    • 18th Sep 19, 9:20 AM
    • #5
    • 18th Sep 19, 9:20 AM
    Been told by pension company I can’t release any funds till age of 55 is this true?,as need to clear some credit card debt thank you
    Originally posted by Jason clark
    At the risk of stating the obvious, the clue is in the title. A 'pension' is to provide for retirement - no clear debts during your working life.

    You need to find another way of addressing your debts. Post an SOA up on the DFW board and you will receive the advice of some very smart and well respected individuals.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

48Posts Today

2,564Users online

Martin's Twitter