Has anyone tried cashing in their UK Private/Company Pension early due to PD (early onset)

Im 46 & have two small company private pensions which my employer & myself contributed to for 7 years. I have not worked for 3 years due to PD and recently decided to cash them in.

I was offered a very small fraction of cash paid up front and a pittance paid yearly until the age of 65. I have made enquiries, but basically told that the Pensions Company can offer me what they think suitable, due to age/illness.

If I waited until the age of 55 however, I could take the full amount in one lump sum, which is 9 years to wait! Im moving home to plan for the future while I am still able to, the cash would help towards this, 9 years is a long time to wait with PD. Very disappointed.

Has anyone with young onset PD experienced the same?

2 Replies

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  • I have, and the penalties are great. I’m 45 and was diagnosed just after my 40th. I live in Oxford, so I hope someone more familiar could offer you more advice in Cumbria. Best of luck and do not worry about asking. A trouble shared is a trouble halved! Gary

  • You could try contacting your Information Support Worker about this and other issues to do with Benefits and welfare support. You can find their details on the Parkinson's UK web site. Good luck.

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