Hello Chillypink.

This seems really quite unusual.

Could you let us know the circumstances behind this early access please?

Who has provided you with the advice?

Its an old pension scheme I was in years ago with a previous employer, the accountants have written to say I have 3 options I have take a "triviality winding up lump sum" or I can transfer the fund or if I was 55 I can retire & withdraw.

I have no idea what this means but I could use the money for Christmas for my 2 kids

Hi Chillypink.

Don't do anything without getting written comfort from your trustee first.

In the long run might it be better to have these funds in a pension elsewhere for your retirement?

Its a very small amount, a few thousand at most & to be honest I would rather use it to pay for Xmas than use it for my pension or give it to my creditors

See what your trustee says then Chillypink.

Be careful Chillypink - I would strongly recommend that you don't just "chance it" and take the money without telling your trustee. They may well find out and are likely to seek that money from you - or if it is spent already they could extend the term of your trust deed instead, or even terminate it for non-compliance.

If you really wish to cash in those funds then get agreement from your trustee first that they will not require it from you.

Hi Kevin

I've been advised that most likely all the money would be taken for my creditors which I am gutted about, I have decided to just transfer the pension over to the new pension scheme.
Thanks for your help

Hi Chillypink.

Probably not much comfort now, but I'm sure you'll be glad of having some retirement savings in later life.