Pensions - Can I withdraw the money after just 10 years?

Pensions - Can I withdraw the money after just 10 years?

Author
Discussion

Goochie

Original Poster:

5,663 posts

220 months

Tuesday 15th March 2011
quotequote all
For the last 10 years I've been paying into a private pension, my employer has also been matching my contributions.

For reasons I shan't go into, I'm considering withdrawing the money from the pot now, with a view to replacing it with a big lump in 6-10 months time.

Is it normally possible to take money out of a pension after such a short period of time?

randlemarcus

13,528 posts

232 months

Tuesday 15th March 2011
quotequote all
I think not.

There's a 2 year period that you can retract your contributions, but when I tried this with my last employer, it turned out that I hadn't made any contributions at all, and I'd been giving my company money so they could pay it all in together frown

Mr Pointy

11,246 posts

160 months

Tuesday 15th March 2011
quotequote all
I think it's locked up until you are at least 55 & maybe longer.