Pension question

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  • Pension question
  • j_me
    Member

    How old are you?

    don simon
    Member

    I don’t see a problem, but you probably won’t get anywhere near 1k.

    mikey3
    Member

    Thats what i,m afraid of,they are sure to stick me up for canceling somehow

    gonefishin
    Member

    You can get the money out of a pension scheme, however you won’t receive all £1000. There will be redemption fees that need to paid out of it and you will need to pay tax on anything that you receive as you won’t have paid tax on this income previously.

    j_me
    Member

    Very unlikely. IIRC unless you’ve got mitigating circumstances like retirement through ill health, you can’t get at it till you’re 50.

    don simon
    Member

    And that ‘somehow’ will be in the T&Cs that you read before signing the contract. 😉

    j_me
    Member

    Check your T&C but I think the 50 year age limit is government legislation. No point giving you all that tax relief just so you can cash it in and spend it.

    mikey3
    Member

    Morning all,i,ve got a £1000 in a friends provident scheme from an old job that i,d quite like to have in my pocket instead,anyone know if you can just phone them up and cancel it and get the cash,i am giong to phone them but they dont open till monday.Just wondering if anyone has done this.

Viewing 9 posts - 1 through 9 (of 9 total)

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