| Pensions question 10:31 - Feb 17 with 1371 views | Reuser_is_God |
I have a pension, which I no longer contribute too, with my previous employer who I left 5 years ago now & I've never transferred that money over to the pension I have with my current employer.
Am I able to claim the money from my old pension & have it now instead of waiting until I'm of retirement age? I'm guessing the answer is no but just thought I'd ask TWTD for any pearls of wisdom.
[Post edited 17 Feb 2017 10:35]
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| Pensions question on 10:33 - Feb 17 with 1347 views | CBMTOBWMMBG |
Sadly not.
You'll have to wait till 55 unless that scheme has some (very unusual) different rules.
You'll be bale to transfer it (i.e. put it somewhere else), but not get to it and spend it |  | | |
| Pensions question on 10:34 - Feb 17 with 1333 views | Reuser_is_God |
| Pensions question on 10:33 - Feb 17 by CBMTOBWMMBG |
Sadly not.
You'll have to wait till 55 unless that scheme has some (very unusual) different rules.
You'll be bale to transfer it (i.e. put it somewhere else), but not get to it and spend it |
That's what I thought.
Load of bollox. | |
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| Pensions question on 10:35 - Feb 17 with 1327 views | No9 |
Speak to a financail advisor who specialises in pensions.
But when you get to retirement age I believe that, whoever was managing your employers pension affairs should contact you.
I have to say that as I undersand it some employers are very dishonest so I recommend you get the specialist on board ASAP. | | | |
| Pensions question on 10:35 - Feb 17 with 1324 views | Kieran_Knows |
Why don't you just carry on adding to it yourself buh?
I've got a pension with my new company, but decided to carry on paying a fixed amount each month into my one from my old company. It's not much a month, but at least it keeps topping that one up, as well having a good pension with my current employer. [Post edited 17 Feb 2017 10:35]
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| Pensions question on 10:36 - Feb 17 with 1305 views | Reuser_is_God |
| Pensions question on 10:35 - Feb 17 by Kieran_Knows |
Why don't you just carry on adding to it yourself buh?
I've got a pension with my new company, but decided to carry on paying a fixed amount each month into my one from my old company. It's not much a month, but at least it keeps topping that one up, as well having a good pension with my current employer. [Post edited 17 Feb 2017 10:35]
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That would be nice but unfortunately I need to reduce my monthly out lgoings at the minute, not increase them. | |
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| Pensions question on 10:38 - Feb 17 with 1283 views | Kieran_Knows |
| Pensions question on 10:36 - Feb 17 by Reuser_is_God |
That would be nice but unfortunately I need to reduce my monthly out lgoings at the minute, not increase them. |
Ha, understandable mate! | |
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| Pensions question on 10:41 - Feb 17 with 1271 views | ITFC1983 |
| Pensions question on 10:35 - Feb 17 by No9 |
Speak to a financail advisor who specialises in pensions.
But when you get to retirement age I believe that, whoever was managing your employers pension affairs should contact you.
I have to say that as I undersand it some employers are very dishonest so I recommend you get the specialist on board ASAP. |
KENO is the chap for this.  |  |
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| Pensions question on 10:42 - Feb 17 with 1260 views | Reuser_is_God |
| Pensions question on 10:41 - Feb 17 by ITFC1983 |
KENO is the chap for this. |
Keno - if/when you see this give me a PM, ta. | |
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| Pensions question on 10:44 - Feb 17 with 1253 views | No9 |
| Pensions question on 10:41 - Feb 17 by ITFC1983 |
KENO is the chap for this. |
Ta! | | | |
| Pensions question on 10:58 - Feb 17 with 1218 views | SWGF |
I've taken the cash from an old pension before, in exactly the situation you're in. Just shut it down and took the contributions out. |  |
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| Pensions question on 11:02 - Feb 17 with 1196 views | trncbluearmy |
| Pensions question on 10:58 - Feb 17 by SWGF |
I've taken the cash from an old pension before, in exactly the situation you're in. Just shut it down and took the contributions out. |
Normally only allowable within two years of joining scheme,you lose the employer contributions and liable to tax |  | | |
| Pensions question on 11:26 - Feb 17 with 1127 views | SWGF |
| Pensions question on 11:02 - Feb 17 by trncbluearmy |
Normally only allowable within two years of joining scheme,you lose the employer contributions and liable to tax |
It was longer than 2yrs of me joining. Company hadn't contributed and yes, I was taxed. Sadly, it wasn't tens of thousands. | |
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