Has anyone got any experience of withdrawing funds from UK Private Pension before age 55 due to early retirement because of ill health.

Can a Thai doctor provide the proof or do I need to return to the uk for a british doctor to sign it off? (I dont have a uk doctor, lived in Thailand for past 15 years, now on retirement visa)

12 minutes ago, philthebook said:

Has anyone got any experience of withdrawing funds from UK Private Pension before age 55 due to early retirement because of ill health.

Can a Thai doctor provide the proof or do I need to return to the uk for a british doctor to sign it off? (I dont have a uk doctor, lived in Thailand for past 15 years, now on retirement visa)

In principle yes you can receive your pension before the age of 55 due to ill health.

However the pension provider will more than likely have strict requirements on what constitutes ill health for early retirement.

You will need to consult the Pension provider for the scheme details and requirements.

ask your pension provider..

A personal Financial Advisor will sort this for you

I took at age 52 a certain amount as lump sum in cash and then a reduced pension till death

20 minutes ago, Cake Monster said:

A personal Financial Advisor will sort this for you

I took at age 52 a certain amount as lump sum in cash and then a reduced pension till death

My last financial advisor stole 30,000GBP from my pension fund.

All crooks IMHO.

1 minute ago, BritManToo said:

My last financial advisor stole 30,000GBP from my pension fund.

All crooks IMHO.

No, YOUR financial advisor might have been a crook and if he Indeed did embezle monies from the fund then you would have been entitled to compensation from the association they have to be part of via the FCA.

16 minutes ago, nchuckle said:

No, YOUR financial advisor might have been a crook and if he Indeed did embezle monies from the fund then you would have been entitled to compensation from the association they have to be part of via the FCA.

FCA only covers people living and using financial services in the UK.

OP is living in Thailand so not covered, and not entitled to use pension/investment/IFA services in the UK.

 

Any UK IFA in Thailand is already working illegally (reserved occupation for Thais) and as a first step will try to move your pension offshore, Isle of Man is popular, or into QROPs.

 

Financial crooks trawl this forum looking for victims.

Beware of people in this forum PMing you with advice.

I had two private pensions one with Prudential and one with Commercial Union . 

When I reached 50 in 2008 , I telephoned Prudential and they informed me I could merge both pensions together and then put them in there "With Profits Pension Scheme" and take the pension immediately at 50 years old. 

They gave me a lump sum equivalent to 25% of both the pensions and I have been receiving a good monthly pension ever since for the past 15 years. It gives me a return of around 7% of what the remaining 75% of what my  pension was worth in 2008 .

I found the whole process very easy to do on the phone and by email with Prudential.

Seven percent return sounds to be very good. Is the amount adjusted for inflation?   I only make 3% net.  My financial advisor takes 1.5% of my total 4.5 % return.  My annuities are returning 3% while the principal invested doesn’t decrease.  It seems that I should have bought annuities.  My portfolio now has a net loss.  ????

Yes I am looking carefully at annuities, I am 68,if I can get 8 per cent at 70 I am 

planning to dive in.

Yes I am looking carefully at annuities, I am 68,if I can get 8 per cent at 70 I am 

planning to dive in.

Just noticed I have been re-classified as a ..newbie.. on this forum, although I joined on January 17 th 2011

3 hours ago, BritManToo said:

FCA only covers people living and using financial services in the UK.

OP is living in Thailand so not covered, and not entitled to use pension/investment/IFA services in the UK.

 

Any UK IFA in Thailand is already working illegally (reserved occupation for Thais) and as a first step will try to move your pension offshore, Isle of Man is popular, or into QROPs.

 

Financial crooks trawl this forum looking for victims.

Beware of people in this forum PMing you with advice.

The OP was talking about a UK pension and the responder claiming theft was Britman 2 , suggesting his was referencing a British pension too, which is what I based my response on. 

Otherwise I agree with all you said.

On 7/2/2023 at 8:54 PM, Kwasaki said:

ask your pension provider..

preciseley.........who can really answer this....apart from what has been posted !!!!!!!!!!!!!!!!!

On 7/2/2023 at 8:52 PM, cleopatra2 said:

In principle yes you can receive your pension before the age of 55 due to ill health.

However the pension provider will more than likely have strict requirements on what constitutes ill health for early retirement.

You will need to consult the Pension provider for the scheme details and requirements.

exactly.......!!!!!!!

28 minutes ago, blackshadow said:

preciseley.........who can really answer this....apart from what has been posted !!!!!!!!!!!!!!!!!

Yeah I don't understand posts like this who knows what his pension provider will give, say or arrange.

You need to read the attachment, it should assist you.

 

https://www.ftadviser.com/pensions/2020/01/15/how-clients-can-take-pension-benefits-early-due-to-ill-health/?page=2