Final salary pension

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neal367
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by neal367 » Sun May 27, 2018 3:34 pm
I am considering an IVA. I owe about £33000. I am 51 yrs old but have a protected civil service final salary pension with a lump sum amount of about £35000 payable on my 60th birthday. This would obviously be after any potential IVA would have ceased but how do the new rules on drawdown aged 55 onwards impact on me...

I had no intention on drawing my pension or lump sum early but can I be forced to at age 55...
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MerlinL14
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by MerlinL14 » Sun May 27, 2018 5:54 pm
No, I believe there is no president to make you draw down on your pension. Talk with a few companies before making a decision and gauge their response to that specific question.
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kallis3
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by kallis3 » Sun May 27, 2018 6:14 pm
I agree - you can't be made to withdraw your pension.
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Foggy
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by Foggy » Sun Jun 03, 2018 8:56 am
I had a CS pension and my proposal was drawn such that pensions and proceeds were specifically excluded. However, as of now, I have yet to see a forced drawdown.
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