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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 47371
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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I am 52 years old and have a small pension of £4660 am I able

Resolved Question:

I am 52 years old and have a small pension of £4660 am I able to cash it in? I do have other pensions into which I am still paying
Submitted: 3 years ago.
Category: Law
Expert:  Ben Jones replied 3 years ago.

Ben Jones :

Hello, my name is XXXXX XXXXX it is my pleasure to assist you with your question today. Is the pension with just one provider?

Customer:

This one is yes

Ben Jones :

And have you contacted the provider to check about the rules on cashing it in early?

Customer:

No I haven't

Ben Jones :

Each pension will be governed by the rules of the provider and it is them who you will need to contact to enquire about this. You will find that some pension providers do not allow any early release of the pension, others have a stepped procedure where you can withdraw a percentage based on your age, others will charge you a penalty if you decide to withdraw early, etc. So as you can see there are different options, but the availability of each will depend on your specific provider. So in the first instance you need to contact them and enquire about the possibility of early withdrawal and the rules on that as it will be specific to the scheme you have invested in

Customer:

Thanks I will ontact them

Ben Jones :

You are welcome, all the best

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