Can I cash in a pension?

[PensionQuestion]

I would like to cash in a pension. The retirement age is set to 65. There was only ever one payment made to the account. Its over 15 years old can I cash it in?

 

[Steven Barrett]

How old are you? And what type of pension is it?

 

[PensionQuestion]

42/personal pension - Retirement fund (thats all thats on the statement!)

I intend to call the company but just wanted to inform myself first before speaking to them.

W

 

[Steven Barrett]

No, you can't. Personal pensions can't be cashed in until you at 60. The exception is ill health early retirement.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

 

[Cervelo]

No, you can't. Personal pensions can't be cashed in until you at 60. The exception is ill health early retirement.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

I could be wrong but if you transfer the PP to a PRSA you can then access it at an earlier age

 

[Steven Barrett]

Company paid pensions can be accessed from 50, this includes PRSA's where the employer has made a contribution.

A personal pension plan and PRSA's where you have always been the sole contributor are from age 60.

All these pointless, confusing different rules keep me in a job!

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

 

[PensionQuestion]

thanks for your feedback