pensions/emigration

[sainsburys]

My quetion is,my partner has two personal pensions and we are emigrating to Australia in the next couple years.What happens to them?Can he cash them in,to help with leaving?

[WendyS]

Am not a pensions expert but I don't believe this will be possible. I think that currently the minimum age for starting to draw a pension is 50, but it will rise to 55 on April 6th this year. Meanwhile, any money paid into a pension scheme must stay there until this age is reached. If you have paid less than 2 years' contributions into a company occupational scheme, you can withdraw the payments, less tax. No doubt a pensions expert will correct me if I'm wrong. Meanwhile your partner should contact his pensions provider to enquire what will happen to them after emigration.