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Selling a pension fund.

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  • 07-03-2015 10:33pm
    #1
    PappaCSkillz22
    Registered Users Posts: 82 ✭✭


    Hi folks

    I've a pension fund I can draw down via early retirement when I'm 50. I'm wondering, are there any companies that buy these off of people? Has anyone ever come across or heard of that?

    I am eager to sell some/all of it, and don't even know where to start.

    Thanks!


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    #2
    tomfoolery60
    Registered Users Posts: 293 ✭✭tomfoolery60


    I am not sure how one sells a pension fund. Can you not just draw it when available?


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    #3
    PappaCSkillz22
    Registered Users Posts: 82 ✭✭PappaCSkillz22


    tomfoolery60 wrote: »
    I am not sure how one sells a pension fund. Can you not just draw it when available?

    Sure, I could wait 7 years to draw down, in full, however I'm wondering if there's any companies that buy them, so I could sell it now. If that makes sense! Just wondering had anyone ever heard of that being done (and if so, what companies).

    For example; if my fund was worth 20k, I'd sell it for 15k, that kind of thing.

    Thanks for replying anyway.


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    #4
    PappaCSkillz22
    Registered Users Posts: 82 ✭✭PappaCSkillz22


    Lockee wrote: »
    How old are you now?

    I'm 7/8 years from being able to draw down.


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    #5
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    OP, the terms of your pension will in all probability say that it can't be assigned to someone else so you probably don't have an asset to sell. There would be all sorts of cowboys operating to provide such a service to the gullible if it was allowed and in fact that is precisely what is going to happen soon in the UK where people will have far more freedom with their pension pot than before.


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    #6
    PappaCSkillz22
    Registered Users Posts: 82 ✭✭PappaCSkillz22


    coylemj wrote: »
    OP, the terms of your pension will in all probability say that it can't be assigned to someone else so you probably don't have an asset to sell. There would be all sorts of cowboys operating to provide such a service to the gullible if it was allowed and in fact that is precisely what is going to happen soon in the UK where people will have far more freedom with their pension pot than before.

    I understand. Bear in mind, I'm not trying to sell my pension to an individual, I'm wondering if anyone knows of any companies that buy them off people, people like me. That's all. So far from the responses, it seems not too be the case.


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    #7
    SBarrett
    Registered Users Posts: 160 ✭✭SBarrett


    You can't sell it in Ireland.

    You may be able to transfer it to another jurisdiction and do it there but you are entering unregulated waters where you don't know what you are being charged and you may end up trying to fight something in a foreign court.

    Steven


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