Can I use my pension for an overseas investment?

P

Phil Ash

Guest
I am 33 years old and have a pension fund of £22,000. Is there anything that I can invest in at all, prior to me reaching 55 years old, when I can cash it?

Maybe overseas investment?

Is there anyway of unlocking it early?
 
Your pension fund provider will most likely have a number of different funds you can invest in. If you want something different than the default investment fund, there is probably other options within their range of funds for specific geographical regions.

Normal retirement age for personal pensions is age 60 to 75 by the way. You havent stated what type of pension it is though so if its a group pension then you can take early retirement earlier with employer consent.

As a general rule pension monies are locked away. You can set up self administered pension schemes however that offer greater flexability for investment that you might be able to transfer into. You would need to talk to a specialist financial advisor in this area though as these types of arrangements are not suitable for everyone.

Kevin Coghlan at Bespoke Trustees (051-304789) might be able to help you as I know he is or used to be involved in setting up small self administered pension schemes. I have no ties to Kevin professionally other than we both worked in New Ireland at one point. He might be able to fill you in more or point you in the right direction if you decided to go this route.
 
Phil - this is an Irish Site - UK Pensions legislation is very different to Irish Legislation. You might need to go elsewhere to find your answer.
 
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