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Subject:
Cashing in Pension early (UK)
Category: Business and Money > Finance Asked by: gazfreeman-ga List Price: $10.00 |
Posted:
07 Apr 2004 04:26 PDT
Expires: 07 May 2004 04:26 PDT Question ID: 326509 |
I have a pension that was opened with a previous company, I am no longer paying into this pension. I am only 27 and would like to use the money from the pension now. Can I cash the pension in and get access to the cash? How do I do this? |
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There is no answer at this time. |
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Subject:
Re: Cashing in Pension early (UK)
From: probonopublico-ga on 07 Apr 2004 08:29 PDT |
If the Pension Scheme Rules allow you to take an early pension as early as age 27, then yes. But, more likely, they will only allow you to take an early pension at, say, age 60. Then, typically, you can generally only take (say) 25% in cash; the balance is used to buy an annuity. The rules are very complicated and you should discuss the options with the Pension Administrarors. My guess is that you can't. |
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