Pensions

MITCH1949

In June 2020 I was in hospital been in 8 weeks, they told me I had cancer in stomach and were going to operate, then told me I'd had a heart attack and could not operate sent me home with terminal cancer. I have a private pension and told provider about terminal cancer and asked could I  take my pension as a lump sum I'd taken some as a lump sum when I retired in 2012 and have been getting monthly payments. They said no its not there dissision ITS HMRC  my pension is worth almost £90000, so I'm not allowed to "cash it in". It makes no difference having terminal cancer, I spoke to macmillans finance team and they said the same. I'm divorced so ex can't benefit HMRC   can pay out under £30000. Give me 30000 for my family HRMC  be happy with keeping £60000.my MP says she will look into it  agrees it's not right but it's going to happen HRMC will take it after my death. 

MITCH1949

I get pip but it's my money, money I worked for, provider or taxman still stealing my money..... 

atlas47

Hi @MITCH1949

You need detailed expert advice on this matter.

Can I suggest you contact the Pensions Advisory Service on tel: 0800 011 3797 ( Mon to Fri - 9am till 5pm).

Make sure you have all documents relating to your pension, to hand when you make the call.

NB
All schemes should have a “Terminal Illness” clause, defined within the scheme.

Hope this helps.

Keep us updated.

Best wishes

atlas47

Hi @woodbine

I only post sound advice, that I know is factual and true.

It matters not what status of retirement the OP is, the Pension Advisory Service is there to help, in all matters relating to pensions.

I am sure with your capabilities, you would seek more detailed insights into such matters.

I have no doubt that you will avail yourself of the freephone helpline, that I suggested to the OP.

Please note what I stated about a “Terminal Illness” clause for scheme membership.

Stay safe and be kind.

chiarieds

Having fairly recently had difficulty over a small private pension, which my now ex-husband & I contributed to equally (which he did not dispute) for our retirement, I thought I had claim to half of this when we separated. However, it was just in his name. 'We' took out an annuity in 2012, however I discovered that once it is in 'draw down,' i.e. when monies are received monthly, then legally nothing can be changed.

The OP took out an annuity, & presumably agreed to the terms & conditions beforehand. Unfortunately I can't see how now they can 'access' monies that are in such an annuity due to their ill health as @woodbine says.

The OP can of course discuss matters with the Pension Advisory Service nonetheless.

ando

Well people I would be far better off without my pension because I get £500 a month work pension my esa is less and I pay full housing rent and council tax all because I went to work I now have MND which I got at 50yrs old my neighbour gets all benefits inc high level pip and he pays next to nothing sorry for a rant but I live on my own and can’t afford care”s

Tori_Scope

It's good to see you on the community @ando I've made your comment here into its own post so that people will be able to find it more easily. 

You can find your new post here.