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Topic starter
31/03/2016 9:05 pm
I have just made my 48th and final payment. Yippee!
I have a small private pension that I paid into years ago and actually forgot all about. It is worn about five grand.
I would love to cash this pension in and buy a flight ticket to Australia to visit my daughter. Am I better to wait until I am in possession of my Form 5 or because I have completed my agreed 48 payments can I go ahead and lift this little nest egg?
31/03/2016 9:55 pm
Hello weejoe and welcome.
Prior to your discharge (Form 5) I wouldn't cash this pension in unless your trustee has confirmed to you that this will be OK and they will not seek any of the funds for your creditors.
Congratulations on making your final payment by the way - I hope that the process worked well for you?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
01/04/2016 1:22 pm
Weejoe, I would wait till that form 5 fallped through the door like you have been advised.
Vickie Smith
01/04/2016 1:22 pm
I'd agree, there is a risk that they would ask for this money from you if you cashed it in now. Hopefully your Form 5 will come through quickly!
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
01/04/2016 5:10 pm
Hi Lisa,
Well done on successfully competing your Trust Deed!
I would wait before cashing your pension in just in case your Trustee wants to take this.
Chase up your form 5 to make sure it doesn't hold your future plans up.
Enjoy Australia when it comes!
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
10/04/2016 11:42 am
Guys thanks very much for taking the time to give me your advice, it is appreciated.
I will contact my trustee and test the water before I cash this pension pot in.
Amy the process was brilliant and I wish I had done it years ago. Yes it was difficult at times, but what was the alternative, I could not continue as I was. Trust Deed is an excellent process and provides a light where previously there was none. A highlight has been 4 Christmases without any tick. Thanks again.
