£11K locked in old permie job pension. Is there a way of getting the cash into my company account ?
I am a contractor now and I work under an umbrella company.
I wrote to my old permie company and they stated that I can either a) do nothing and the £11K stays in the pension scheme until I retire (naturally) or b) transfer the old permie pension all £11K of it into either a new company pension or private pension schem (no I don't have one and don't want one).
Question : Is there a cunning way of setting up a private pension scheme with a policy which allows you to quit the pension and take the money now (incurring a modest penalty fee) or not ?. See I really want to get my hands on the £11K right now to help me purchase a new home. If so then I will transfer the old pension to the new private pension scheme and disolve it pronto.
Answers on a post card please.
I am a contractor now and I work under an umbrella company.
I wrote to my old permie company and they stated that I can either a) do nothing and the £11K stays in the pension scheme until I retire (naturally) or b) transfer the old permie pension all £11K of it into either a new company pension or private pension schem (no I don't have one and don't want one).
Question : Is there a cunning way of setting up a private pension scheme with a policy which allows you to quit the pension and take the money now (incurring a modest penalty fee) or not ?. See I really want to get my hands on the £11K right now to help me purchase a new home. If so then I will transfer the old pension to the new private pension scheme and disolve it pronto.
Answers on a post card please.
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