cash in my penion

[forrestgump]

After taking IHR last year with 11 years service can it be possible to cash in my penions and possibly invest it in something that might be a little let's say SAFE? Shares in ATOS could be a safe bet lol

Many thanks!

[Stormproof]

Dont think you can cash it in as you have over a couple of years service. I may be wrong but i"m sure it is frozen until you officially retire.

[easter bunny]

Your Pension is frozen ( except for annual cost of living rises ) until at least until you are 55 .

You cannot touch it until at least then .

[RobertT]

After taking IHR last year with 11 years service can it be possible to cash in my pension and possibly invest it in something that might be a little safer?

Many thanks!

You can't cash in your pension I'm afraid, and since the government have taken over the pre 2012 liabilities is HAS become safer.

[bluegoo]

Hello all

Bit late to the thread but I have heard that it is possible to release some funds from your RM pension, Think it is about 25% now and another lump sum 8 years after, think this second payment will be taxed.
From what I have been told you are allowed to do this if you are moving out of the UK, I am moving to Australia very soon so will look into it further and get back to the thread but apparently you don't have to prove you are moving, just contemplating it is enough.
I guess that would come on top 8 years later at second instalment when they send it to your address in the UK!.

All the same im not sure I would be interested in doing it and don't think it is ever too wise to do it but for some needs must.
back when I know more.

Ps this is all done by a pension release firm, will be back after I have had a chat with them.

[RobertT]

Hello all

Bit late to the thread but I have heard that it is possible to release some funds from your RM pension, Think it is about 25% now and another lump sum 8 years after, think this second payment will be taxed.

You can only legally release funds from a pension scheme once you reach 55 years of age. The maximum cash sum is 25% tax free, with the rest being an income.

From what I have been told you are allowed to do this if you are moving out of the UK, I am moving to Australia very soon so will look into it further and get back to the thread but apparently you don't have to prove you are moving, just contemplating it is enough.

There is a thing called QROPS or Qualifying Recognised Overseas Pension Scheme, which lets you transfer a UK pension to another country if you emigrate. But you have to actually do that not pretend to.

I guess that would come on top 8 years later at second instalment when they send it to your address in the UK!.
All the same im not sure I would be interested in doing it and don't think it is ever too wise to do it but for some needs must.
back when I know more.
Ps this is all done by a pension release firm, will be back after I have had a chat with them.

There are lots of discussions and articles about releasing your pension early on the internet but I would strongly recommend you read the following link if you’re seriously contemplating using a pension release firm.

http://www.hmrc.gov.uk/pensionschemes/liberation.htm" onclick="window.open(this.href);return false;