Encashing Tiny Private Pension Early

[Applecart]

I took out a private pension in 1997 with BOI but stopped it after 2 payments (got into pensionable employment with a new employer shortly afterwards). Contributions about €500 at time and now worth €1300 approx. Can I encash this now? Are there Revenue implications?


I am aged 48 and pension age is 65- so small doubt I would get an annuity . I am buying a new house and could do with the money.

Thanks in advance for help

 

[Steven Barrett]

No. Personal pensions cannot be matured until 60 unless you have to retire early due to ill health, where there is no restriction on when you can mature it.

Steven
www.bluewaterfp.ie