Is there any way to cash in a pension fund?
The last company I worked for (I'm in in the United Kingdom) had one of those schemes where the company puts a certain amount of money every month into a pension fund. I quit my job and now I keep getting letters about my fund. It's not a huge sum, just a couple thousand pounds.
I don't want a pension fund, and want to cash it in if at all possible. (I know most of you will not understand this but I don't want to discuss it so if you choose to answer please respect my wishes.)
I've asked around, and it seems I can get it transferred, but I haven't found a way to extract any money from it. Is there any way to cash it in? I will gladly take £100 now rather than shut it down. (As I mentioned, keeping it open is not an option.)
Is there any strategy I may have missed? e.g. would I possibly be able to transfer the funds to someone else? (Maybe in exchange for cash?)
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For "Small" or "Trivial" pensions you may be able to do this the rules recently changed check the pensions advisory service.
www.pensionsadvisoryservice.org.uk/news/2014/march/new-rules-for-cashing-in-your-pension
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