2007-03-25 01:48:12 · 3 answers · asked by Francis7 4 in Business & Finance ➔ Personal Finance
Why are you asking that question here?
Insurance Policies are many and varied.
Look at the wording on the policy for this information because there might be a surrender value but bear in mind, this will be far less than you paid in.
2007-03-25 01:52:53 · answer #1 · answered by MANCHESTER UK 5 · 0⤊ 0⤋
We have recently drawn on our pensions. My experience was that you are able to take a madximum of 25% of the value of the fund and then a monthly income. You need to be 50 years plus. I would recomment that you contact Javed at the Annuity Bureau (there is a web site) and he will look advise you and get you the best deal on the market. Good luck - retirement is good!
2007-03-25 10:21:19 · answer #2 · answered by MrandMrs 2 · 0⤊ 0⤋
In UK, pensions are normally payed from annuities and these are for life and cannot be undone.
What you could do would be to borrow money on the security of the income from your pensions. Like a mortgage. For example if the interest were 7%, you should be able to borrow £7250 which would be paid off in 25 years. Speak to your bank manager.
2007-03-25 06:29:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋