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I can't get my local govt pension back - any ideas?

6 replies

maristella · 30/07/2013 18:17

I paid into it for a few years, then had to stop a year ago because I couldn't afford it.

I'm due to leave my job soon and have enquired about this money. Apparently I can't get it back, but might be able to transfer it into another pension.

If anyone could please advise me on how I could somehow get this back, I'd be really grateful Smile

OP posts:
ruddynorah · 30/07/2013 18:19

You can't get pension money 'back' it's locked until you reach retirement age. Check your paperwork though as some have it in the terms and conditions that it can be transferred to another pension scheme.

PatriciaHolm · 30/07/2013 18:21

You can't; once it's in a pension, it can only be transferred into another pensions or taken as pension usually at age 55, sorry. This should have been explained when you started the scheme.

maristella · 30/07/2013 18:25

People were able to pull out until recently Confused so frustrating!

OP posts:
maristella · 30/07/2013 18:26

Pull out and get a large proportion of it back is what I meant

OP posts:
Viviennemary · 31/07/2013 12:10

I think the rules have changed and you can no longer get it back as a lump sum. Sometimes transferring it to another scheme is an option. This should have been explained to you at the time.

maristella · 01/08/2013 17:02

The rules changed very recently, after I'd started paying in. They did sent a complicated letter, but to be honest, it was at a very difficult time and I should have but didn't chase it up ConfusedHmm

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