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Can I take money out of my pension?

5 replies

hoolagirl · 14/03/2007 10:05

I have a very small pension which was arranged through my work.
I have handed in my notice. Im not going anywhere else and am wondering if I can withdraw any money out of pension.
It would mean I can take the summer off and spend it with DS before he turns into a horror when he starts nursery/school.

OP posts:
hoolagirl · 14/03/2007 10:06

Sorry, don't mean that kids turn into horrors when they start nursery/school.
I just mean while im still the centre of his universe.

OP posts:
ZZMum · 14/03/2007 10:06

no -- pension money can only be transfered to other pensions or released at I think 55 at earliest

Piffle · 14/03/2007 10:11

nope sorry
not until you retire
minimum in any case for women is 50 but that's only on medical grounds IIRC (used to work in pensions)

Gingerbear · 14/03/2007 10:24

If you have worked for the company for less than 2 years, you can get a refund on the amount you paid into the paension, but it will be taxed.
Otherwise, you can either leave it in the existing fund, or transfer it into a new fund.

Gingerbear · 14/03/2007 10:25

sorry for typo.

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