Withdraw pensions as cash?

Question

Hi,

In my line of work I tend to move jobs alot (fix problem, feet up, get bored, move on) and I've accumulated 5 personal pension plans with 12 -

24 months worth of contributions in each.

I'm 28 and would really rather use this money to add value to the house I've just bought - I understand this is probably some horrible idea which will result in me being a 65 year old hobo, however....

Is there a way for me to get my grubby mitts on the funds tied up in these various funds taken out between 2000 and present?

Many thanks for any info.

regards

Alex

GB · Accepted Answer

Short answer: no.

Trust No One · Answer

Does this imply there is a long answer which may possibly not be no? Isn't there some type of provision for taking the money out of a company  scheme if you've paid into it for less than two years?

GB · Answer

No

Tim · Answer

"Trust No One" wrote Yes, it's called a "refund of member contributions". BUT it only applies to company schemes, not "personal pension plans" as the OP said (s)he had...

mooncatoscar · Answer

Thanks for all the replies aplogies if I've mis-named something - these are all " Group Personal Pension Plans / Scheme " regards

GB · Answer

aplogies if I've mis-named something - these are all

" Group Personal Pension Plans / Scheme "

regards

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If they are personal pension plans, the answer is still no.

GB · Answer

Thanks for all the replies

aplogies if I've mis-named something - these are all

" Group Personal Pension Plans / Scheme "

regards

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Since you won't rest, here is the reference in the RPSM:

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mooncatoscar · Answer

---------------------- thanks for all the info GB - much appreciated.

Tim · Answer

"GB" wrote And notice that  " Group Personal Pension Plans / Scheme"  are *not*  "occupational pension schemes", even if the company pays into them.

Withdraw pensions as cash?

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