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Have £100k pot in old pension scheme -- can I access this?

4 replies

mulranno · 24/06/2012 14:31

Having significant financial problems at the moment. I have £100k in a pension pot from an employers scheme that I left 10 years ago - I dont add to it- looks like it will pay out about 4k per year -- can I close it down and access the pot now to sort out my debts?

OP posts:
StarryCole · 24/06/2012 14:57

I don't believe you can. Call the pension providers to talk you through any options.

CogitoErgoSometimes · 26/06/2012 09:34

Pension money is usually tied up until you reach the pension age stipulated at the outset. You can move the money to a new pension but you can't access it. If you've got high debts right now, worth talking to CAB, CCCS or National Debtline.

BadgerFace · 28/06/2012 20:20

You don't say how old you are but bear in mind that you can draw down on most private pension plans from 50. It's not usually possible to take anything out prior to pension age.

Fiveflowers · 28/06/2012 21:18

Info here

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