Pension enquiry?

i've been paying into a private pension fund for around 4 years.

i'm not going into details but due to future plans changing i now no longer need the fund.

can i close the account and get the money back?
the account is with Nation Wide.

thanks

oh god, will you go away MR SNELL??? you are a complete conman who preys on the needy. consider yourself reported.

short answer - no.

the pension you paid money into comes with some tax benefits, basically for every pound you put in the government gives you some more money to put in from the tax you pay.

There is no such thing as a free lunch and so the government insist that in return for giving you these tax benefits you must keep the fund until you are 55.

you can close it but you will probably lose out

i don,t think so..i believe it will sit there until you are at least 50 then you can take 25% tax free lump sum then the rest remains there till your 65 i think.....drawing it in at 50 means you lose a lot too .....best carry on or just forget about it....................i may be telling you wrong but i drew mine at 50..took the 25% and get a very small private pension...am almost 53

if you don't need the funds you might be able to use it as a defered pension (one you can draw out later when you retire)...

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