can I sell or get money now from my section 32 buy out plan pension now?

Question

I have been told I cant touch it until I am in my 50's but I desperatly need some money now from it. Is there anyway I can sell it,borrow from it or anything. I have this money locked up but there must be some way of getting a bit of money from it now. I am 40 years old and and trying to find someway to unlock it or raise some money from it without having to wait until I am 55 years old. I cannot get credit and need some of this money now.

Answer 1

I believe 'Section 32' is a USA Pension system. I assume it is similar to UK SIPP's (you know you posted to the UK Taxes section ?)

Access to Pension funds is restricted by Law and (as far as I am aware) there is no way to get the money out until you reach the earliest permitted retirement age.

If you really need money now, I suggest going to your relatives.