Pension - cashing in early

Sarah2022

Hi Guys,

My boyfriend was paying into a pension through work for several years, but has since stopped work due to a disability and is unable to work anymore. He contacted the bank today and was told he can't collect on it until he's retirement age. Does anyone know if there's a clause that allows you to cash in on a pension if unable to work?

Thanks for any help.

mp22

Moved to Banking & Insurance & Pensions

3DataModem

If the disability is life-shortening, then it may be possible. Write to the trustees of the scheme for more info.

bailes

Sarah,

It's unlikely that he will be able to cash in this pension.

The Trustees of the pension are the appointed decision makers for the company scheme. they are usually employees of the Company and will have all the terms and conditions of the scheme.

if he contributed for more than 2 years. it is unlikely that he will be able to access the funds. more than likely he will have to wait till age 50

sorry i couldn't be more helpful.

regards,

marrus

My husband cashed in his pension due to having a dissabillity and he is over 50. The pension in totalks was just over 3500. He paid some tax just wondering is there anyway of claiming the tax back.