Cashing in a small pension

[saxy_jag]

Wonder if anyone can advise me?

I'll be 50 later this year. In the early 1990s I paid into the NHS pension scheme for 2 years. Just a few hundred quid in real terms. I wanted to get it refunded when I left the job but I'd been in service a month too long and so I couldn't.

I'd like to cash it in now (or at least, when I reach 50). I don't mind 'losing' it from my eventual retirement money because it's not a lot and besides, I'm in a decent pension scheme right now. I could just do with a few quid spare for a small project I have in mind.

Thing is, I've read on some sites that you have to be 60 to cash in a small pension, and also that you have to cash in all your pensions if you're going to do this.

Does anyone know much about this?

By the way, I've already checked out the DWP and NHS pensions websites - they don't answer my question properly.

[factor-fiction]

You can convert your pension pot into a lump sum of 25% of the value and then take an income based on the residue.
You can cash in a pension if the total value is trivial (you need to see the HMRC website for details) but I understand that the total of all your pension pots needs to be considered trivial.

[saxy_jag]

Thanks for that, trivial. I do have another pension - not huge, but not trivial either - that I don't want to touch until I've retired. I think I'll check out the website. I've got to call HMRC another matter anyway, so I may just ask them then.

Cheers
SJ