Anyone know about pensions?!

[pucca]

Dh is about to change jobs, he has paid 6% into his pension for 5 years, paying about £90 a month. The company also puts so much in too.

Does anyone know what options are available?

Is there anyway you can release cash from this kind of pension?

TIA

no, he either has a stakeholder type pension with a value of say £12/13k assuming employer matched contributions or he has a preserved pension he may transfer to new employer, normally on leaving you get the details explaining all the options available within a month or so. find a local ifa via www.unbiased.co.uk and ask what options are available.

you can only get your pension contributions refunded if you've been in the scheme for under 2 years (and then they'd only refund his contributions, not the company ones, so that's not much use). That's a government stipulation, so no cash release will be available whoever the scheme is with.

so the only option is to transfer either to a new company pension or a personal scheme