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How to sell a Pension ?

cadrjr · 2008-01-30 13:28:40

I saw Pat Falvey (of Beyond Endurance fame) on the Late Late Show a couple of weeks back. He said he financed his Antartic Expedition by selling his pension. How can this be done ? I have a small dormant pension fund that Irish Life won't let me touch until I'm 55 that I could really do with cashing-in as I'm really…

30-01-2008 1:28pm

#1

cadrjr

Registered Users, Registered Users 2 Posts: 16 ✭

Join Date: January 2008

Posts: 5

I saw Pat Falvey (of Beyond Endurance fame) on the Late Late Show a couple of weeks back.
He said he financed his Antartic Expedition by selling his pension.

How can this be done ? I have a small dormant pension fund that Irish Life won't let me touch until I'm 55 that I could really do with cashing-in as I'm really strapped and in danger of having my home taken by a sub-prime lender.

CADRJR

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Comments

#2 30-01-2008 2:59pm

m_stan

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Posts: 1348

I think it can be done, but note that all the tax benefits you got when contributing to the pension will be reeled back in when you do it, meaning your small pension will get even smaller.

If by doing this you're only putting off the inevitable, it might be worth considering whether it's worth doing this and leaving yourself with no pension.

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