Can you cash in / sell a private pension in UK before the age of 50? If so, where?

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Can you cash in / sell a private pension in UK before the age of 50? If so, where?

2007-01-16 00:47:47 · 3 answers · asked by Paul R 1 in Business & Finance ➔ Personal Finance

3 answers

Only if it was very recently opened (~30 days ago)

2007-01-16 04:34:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋

NO.

Since all Pension organisers must be registered with Inland Revenue they will ensure the rules are followed.

Check out link below for details of current rules (note that the earliest retirment date goes up from 50 to 55 in 2010)

2007-01-16 01:09:32 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋

No, I did ask that question to a company I have a pension with and they explained that the reason pensions cannot be paid early is to protect you from maybe putting the whole lot on red at the roulette table or investing it in some other hair-brained scheme.

2007-01-16 17:39:05 · answer #3 · answered by micha19702007 1 · 0⤊ 0⤋