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pension advice

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By (user no longer on site) OP   
over a year ago

Could anyone give me some advice as to whether it is possible to access my pensions now. I have two private pensions from previous jobs which probably total 2k each. I doubt they ate going to help me when i eventually reach retirement age and wondered whether it would be possible to receive the money I've paid in now.

Thanks in advance

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By *ercedes62Woman
over a year ago

Northampton

As far as i am aware you are not able to cash a pension in.

However you are allowed to move some pensions to another fund to consolidate.

Hope this helps.

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By (user no longer on site) OP   
over a year ago


"As far as i am aware you are not able to cash a pension in.

However you are allowed to move some pensions to another fund to consolidate.

Hope this helps."

Yes that is very helpful, thank you x

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

Check the transfer value as it may not be worth moving it at all. I have one like that, every time I have looked at moving it to my larger fund the advice has been to leave it.

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By (user no longer on site)
over a year ago

You can't take it until the minimum age of 55. However if you have contributed to the pension and you have been in a scheme for less than 2 years you may be entitled to a refund of contributions less tax. Best call the pension provider who will be able to tell you if you can get a refund.

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By *xccvvMan
over a year ago

Yorkshire North East

You cant take your pension until age 55, or earlier if in bad health, you can take the whole amount if it comes under the triviality rules, which are at present your fund is 1% or less than the lifetime allowance, which is at present £1.8 million

So a fund under £18,000 you can take it all, but you must be aged 60 to do this, or in bad health

The rules will change over the years, as will the amounts

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