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Pension Question - taking it early?


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didn't know what other forum to put this in. I have a pension with Scottish Widows with my current employer. I wish to know if its possible to withdraw a pension before the age of 50?

 

I am not after the pros and cons of doing so ;) I just wish to know in simple terms if it is possible and how? I know I can move it to another provider but that is not what I wish to do. :) Any help is really appreciated. :)

 

Kind Regards,

David

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Hi David,

 

The only way to be able to take your pension before age 50 (currently, soon to be 55 from 2010) is by way of a special dispensation on medical grounds which would need to be agreed by the administrator.

 

HTH

 

D x

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