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dazzM
10-07-2009, 22:11
Can I sell on a pension? I have a pension which froze about 6 years ago. I would like to release the cash and re invest elsewhere (and also get married too as there is a good tidy sum there)
NicolaUK
10-07-2009, 22:14
I think it's stuck in there until you're 55 and even then you can only get 25% as a lump sum unless it's a very small amount.
dazzM
10-07-2009, 22:16
I only ask as my brother just managed to do so. And he's only 38
NicolaUK
10-07-2009, 22:19
Checking about I've seen this site that may help:

http://www.releasemypension.co.uk/index.html

Is there a reason why he was able to get at the money? Health issues and the like? Or was it a small amount?
dazzM
10-07-2009, 22:35
Checking about I've seen this site that may help:

http://www.releasemypension.co.uk/index.html

Is there a reason why he was able to get at the money? Health issues and the like? Or was it a small amount?

worked out around £15000. No health issues to speak of.
pyrogena
10-07-2009, 22:42
Are you sure it wasn't an endowment he sold?

As far as I know it's not possible release a pension before you're 55.
NicolaUK
10-07-2009, 23:34
To be fair, I'm intrigued. One of my issues with pensions is that in a financial crisis you could have thousands of pounds tied up that you can't access.
dazzM
11-07-2009, 08:28
Im seeing my brother today, so will get more details on the subject.
rbullivant
13-07-2009, 07:21
I believe you can cash in a pension at any time, however you will lose quite a bit of it to tax and extra tax from the tax you didn't pay because the money went into your pension.

R