Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Can I cash in my pension?

(6 Posts)
Nancy66 Sat 22-Aug-09 16:34:24

Does anybody know?

I've got a private one that I started about 12/13 years ago. To be honest I really don't put enough into it to be worthwhile and I'd like to remove the equity and use it to pay off other debst.

But - am I allowed to do this? It is MY money!

Podrick Sat 22-Aug-09 16:57:36

if it is a pension then you can't have it yet
If an endowment than you can but will probably lose most of your investment if you cash it early
sorry sad

Nancy66 Sat 22-Aug-09 16:59:07

Bollocks!

tiredOFTHEDMemma Sat 22-Aug-09 17:06:24

I dont think that you can. I asked if I could cash in one of my pensions a couple of years ago and was given a big "NO!" from the blokey on the phone.

Podrick Sat 22-Aug-09 17:09:10

Agree that phoning them up is the best course of action - good luck

Nancy66 Sat 22-Aug-09 17:22:33

I've been researching online and it seems that you can't access it before retirement - the government give you tax relief on your contributions on the understanding that the money is ringed off until you retire.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now