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pensions

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

Can you cash in a pension? I have a very small one from an old job, about 3k and wondered whether I could??

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

I know you can because my dad did it but don't know how you do it try google or when i see him i can ask

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

You can't access a company scheme until you're aged over 55. If youre still paying into a scheme try and transfer the money across.

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

Try looking at the Pensions Advisory Service website. Very useful information.

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

You can't as you are too young. Unless you were only at the company for a short period. Hope it helps x

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By *mmabluTV/TS
over a year ago

upton wirral


"Can you cash in a pension? I have a very small one from an old job, about 3k and wondered whether I could??"

You can cash in a pension at 60(maybe less for woman)It must be under 18,000

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

Like others said , depends on type of pension . Many company pensions can take a tax free cash sum but only at the minimum age they've set - generally that's 55, some occupations are younger. If you only contributed for a short time I'm sure you can get a refund of contributions - I've got two years in my head, but it's a long time since I worked in that field. It's all going to depend on the type of pension you've got. Like others said - best to get proper financial advice.

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By *oodmessMan
over a year ago

yumsville


"Can you cash in a pension? I have a very small one from an old job, about 3k and wondered whether I could??"

There was a recent news report that suggested there will be a 40% tax on people cashing in all of their pensions to try and curb a mass withdrawal. Taking out up to £3500 shouldn't be affected, but sums over this would be likely to attract a hight rate.

There was discussion later with Cameron saying we trust people to spend their money wisely and how they like, but I would seek advice re. the tax rate when you look to cash it in

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By *nnyMan
over a year ago

Glasgow


"Can you cash in a pension? I have a very small one from an old job, about 3k and wondered whether I could??"

Got your eye on a Lamborghini?

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