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Unlock my pension to invest in my retirement B&B
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Deliciously Dedicated Diehard MoneySaving Devotee
 Join Date: Aug 2005 Location: South Lanarkshire Posts: 15,851 <!– Thanks: 3,793
–> Thanked 9,012 Times in 6,286 Posts |
 Quote:
The Civil Service pension is a Defined Benefit scheme which will allow a tax-free lump sum and monthly pension. You will be able to take a maximum of 25% tax free although this is unlikely to be your best option as the index-linked pension is very valuable. You will also lose about 25% of your pension by taking it 5 years early – assuming your normal retirement date is age 60.
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Fantastically Fervent MoneySaving Super Fan
 Join Date: Jun 2007 Location: London Posts: 4,625 <!– Thanks: 291
–> Thanked 2,686 Times in 1,829 Posts |
No, a B&B would count as residential property and therefore not be a permitted investment within a pension.
I am an Independent Financial Adviser
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