DH's pension

[heartonastring]

Hello,

I'm wondering if anyone can help!
DH has a small pension that he has been paying into since 2016. There is currently £2000 in there and the overall projection when retired if continuing to pay is £11pa.
I have a teaching pension which I over pay into, athough the overpaying will hav to stop for the moment as our circumstances have changed. DH is now a stay at home dad and has a part time job (16 hours pw.) We are due our second baby very shortly and our boiler has just broken and we need a new one.
Can he withdraw the £2000 as this would be exactly what we need to fix our boiler issue without having to borrow or take out a loan. If it was a larger sum, or had no other provisons in place, we wouldn't touch it (although £11 a year is hardly life changing!)
Would there be any penalties. We would close his pension account after. He is 47 so I would look into a LISA to have some savings for when he does retire. TIA

He is not old enough to withdraw from a pension. He would need to be at least age 55 but the age he can withdraw may be different to that, the pension annual statement may say when he can withdraw.
www.pensionsadvisoryservice.org.uk/about-pensions/retirement-choices/when-can-i-take-money-from-my-pension

He is too old for a Lifetime ISA, have to be under age 40 to open one.

He could look at moving his pension to a different provider if the costs are eating too much into the capital.

@nannynick, thank you. I didn't realise he would be too old for a LISA but since I'm under 40, I could still open one.
I wonder if I used the wrong language? Would he be able to take out the total sum in the pension (£2000) and close the account?

You can’t touch a pension until 55.

Thank you, I didn't realise this! When I was 27 (5 years ago)I had a very small pension that I had paid into for over a year with the local council.
Since I had only been in that job a short time and was leaving to retain, I took out the money (£700) and closed the account. I wonder why I was able to do that?

It wasn’t a pension you invested in

You can not withdraw money from a pension at 27. It wasn’t a pension if you could

I've still got the paper work that states it's a pension...
I just find it really confusing! Thanks for all your replies!

The council scheme was most likely a Defined Benefit scheme. Those have different rules as the money is not actually going into a pension pot that builds up to pay the pension, instead it is going to pay then pensioners now.

There will be firms that offer unlocking of pension funds but they are generally scams.

Even if you managed to unlock the funds the tax payable would wipe out most of the pot unless you're at a qualifying point (normally age). I've seriously considered this as an option recently but all my research points to it being not a good move.

You might have more luck posting somewhere like the money saving expert forums, there's some seriously clued up people there about money matters.

Depending on when you worked for local gov you would have received a refund if you did not contribute for the minimum amount of time, currently it is 2 years.
I work for a LGPS fund

Get that paperwork out.... because it is as not a pension if you got out money out at 27. Really OP

Thanks @Decentsalnotime @Polkadotties has it right. I paid into a LGPS but only worked there for 13 months so I guess that is why I was able to withdraw it and the reason for why I thought my DH could do the same.

We are now looking at taking a loan out to pay for the boiler and will transfer DH to his new job pension shortly. Things would have been better if I wasn't going on Mat leave in 2 weeks and DH didn't have to take time out job hunting after being made redundant!

Thanks for all the advice, you've all been really helpful!

Glad I could help @heartonastring