pension

[mark saunders]

if you leave before official state pension age (66 for me)can you draw defined contribution as a lump sum and can royal mail take back the money they have paid into pot?.I have only been postman for 4 years and am 58 so pot is not that big so can i take the whole amount as a lump sum including the percentage paid in by royal mail?

[RobertT]

if you leave before official state pension age (66 for me)can you draw defined contribution as a lump sum

You can normally take any pension(other than the state pension) any time after 55, although whether that's a good thing to do is debatable.
Under the new rules that came into force in April, you can take a defined contribution pension as a lump sum with the first 25% being tax free.

and can royal mail take back the money they have paid into pot?.

No, all of the money is yours including your contributions, RM's contributions, tax relief and any growth on the investments.

I have only been postman for 4 years and am 58 so pot is not that big so can i take the whole amount as a lump sum including the percentage paid in by royal mail?

Yes.

[stodgy88]

My brother worked part time for around 3.5 years,was offered a small pension and lump sum when he reached 60,but took it all in lump sum,£11,500.