katie_noah
Registered User
- Messages
- 8
I've read many of the DB cash-in posts which are great. My question is fairly specific.
I'm 45, have lots of personal debt (to family) and heavy bank loans. I live in my overdraft because of these loans. I've learned hard personal lessons but living with this financial situation causes me much emotional stress.
I've moved company and have to decide what to do with my 18years of a DB pension. This guaranteed 30k p.a on retirement.
I could do even 22K of this money now to clear my loans. I have an apartment in negative equity, part of my pension in years to come?
Can I part cash-in (22k) of it and transfer the rest as advised on your posts? What are the penalties/charges?
I will contact my old company's pension people (Hewitts) but wanted to test the waters here first.
Many thanks for any thoughts on this.
I'm 45, have lots of personal debt (to family) and heavy bank loans. I live in my overdraft because of these loans. I've learned hard personal lessons but living with this financial situation causes me much emotional stress.
I've moved company and have to decide what to do with my 18years of a DB pension. This guaranteed 30k p.a on retirement.
I could do even 22K of this money now to clear my loans. I have an apartment in negative equity, part of my pension in years to come?
Can I part cash-in (22k) of it and transfer the rest as advised on your posts? What are the penalties/charges?
I will contact my old company's pension people (Hewitts) but wanted to test the waters here first.
Many thanks for any thoughts on this.