www.iva.co.uk

I posted a couple of weeks ago re: the possibility of using your pension fund as an asset to offer to creditors. Thank you to Melanie and Michael for your replies which suggested that this might be possible.

I've spoken to HSBC (my pension is with them) who have advised me that the minimum age at which I can access my pension is 50 and that, in fact, this will rise in 2010 to age 55.

I'm 46 and so it looks as though this avenue has just been closed to me. I'm presuming that when Melanie and Michael suggested it may be possible they meant if I was old enough to access my pension.

Does anyone have any further comment/advice or have experience in this area at all.

Thanks

At least your benefits will be safeguarded in retirement but you obviously still have debt problems. Speak to an IP firm for some free advice to see what is the best way forward now that you know your pension plan cannot be used.

Hi Bluesky

I am aware of a procedure that has a possibility of accessing a pension fund if certain criteria are satisfied, but you need to seriously consider the implications of what this would mean to you in retirement.

Please email me if you feel this is something you wish to discuss.

Kind regards,

Hi, I would contact a few IP's to get some free impartial advice on your situation. Reviews can be read at www.iva.com

Hope it all goes well for you and the right solution sourced for you.

Please explore all options before dabbling with your pension fund. That money will need to keep you long into the future post-retirement, and you should be very wary of using it now as a quick-fix to deal with unaffordable debt.