SIPP and getting money put before 55

[Hobosapien]

For now... By the time some people get to 55 it's going to be higher.

NNNOOOOOOOOoooooooooooo.

I daren't google it to get the facts (who does ) but was hoping I could doss around earning minimum to keep me out of cardboard city avoiding hammering the savings too hard as a buffer, until I could start clawing my money out of the private pension for investment elsewhere.

Oh well, time for a plan B for my plan B.

[northernladuk]

I prefer concluding the illness rather than ending it.

I prefer relieving the burden on us than ending it.

[Lance]

If anyone is planning to end pscont's terminal illness within the next 12 months I choose to know nothing of it.

I prefer concluding the illness rather than ending it.

[WordIsBond]

Life is a terminal Illness

If anyone is planning to end pscont's terminal illness within the next 12 months I choose to know nothing of it.

[SimonMac]

Yes you can.

If you have a terminal illness with less than 12 months to live you maybe able to access your private pension before 55.

Life is a terminal Illness

[northernladuk]

</pscont mode>
Dus this mean I can get diagnozed with flu in a train terminal and get meh pension early??? Then route it via Isle of (wo)Man to ensure no tax liability????
</pscont mode off>


Edit: Thought this was General, from NLUK's comment. Apologies. Still, the point stands I feel.

<pscont>How much of my pension can I give to my best friend? He has four legs and a tail so can I give double the amount tax free? </pscont>

[rogerfederer]

Yes you can.

If you have a terminal illness with less than 12 months to live you maybe able to access your private pension before 55.

</pscont mode>
Dus this mean I can get diagnozed with flu in a train terminal and get meh pension early??? Then route it via Isle of (wo)Man to ensure no tax liability????
</pscont mode off>


Edit: Thought this was General, from NLUK's comment. Apologies. Still, the point stands I feel.

[crack_ho]

Yes you can.

If you have a terminal illness with less than 12 months to live you maybe able to access your private pension before 55.

[northernladuk]

Still 55 as far as I know for personal pensions.

For now... By the time some people get to 55 it's going to be higher.

[adubya]

Depending on your age the earliest you can take a pension is now 58, I wouldn't pin your hopes on getting it early

Still 55 as far as I know for personal pensions.

[SimonMac]

If you have SIPP and some money in it after 55 yo you can get 25% tax free and the rest at your current tax rate.
Question is can you do this before 55 of course the 25% tax-free is out of question, but if you take money out what are the taxes/penalties?

Depending on your age the earliest you can take a pension is now 58, I wouldn't pin your hopes on getting it early

[northernladuk]

Should I have asked an 8 year old to Google this for me?

Yes but don't do it 270 times via various social medias.

[Grasser73]

Question is can you do this before 55 ?

No you can't.

[northernladuk]

Clue. Google minimum age for withdrawing pension.

General please.

[pscont]

If you have SIPP and some money in it after 55 yo you can get 25% tax free and the rest at your current tax rate.
Question is can you do this before 55 of course the 25% tax-free is out of question, but if you take money out what are the taxes/penalties?