State Pensions can be sold?

castie

Is it possible to sell your pension or have it bought out?

My mother said to me when times were hard that my father sold his pension.

She does not have all the details herself so I am wondering if this is possible to do?

If so then does that mean that when my father turns 66 he will not get a pension?

Any answers would be great I couldnt find anything online about selling pensions.

mercenary2

he would deff not be able sell a state pension ,but private he could prob of sold it back to the pension company for a fraction of what he paid in but as to weather this can be done now with new laws and what nots in place ..also a pension in ones name would not be transferable to another..

i know i cant touch my private pension untill im 65 but stoped paying into it years ago so i will prob need give them money at the end..:)

and if he did sell back to them then no he will get nothing from them,but if he has his stamps paid then he would get a state pension

castie

Thanks for the response.

So if you sold your private pension but then kept making contributions what would that mean?

mp22

castie wrote: »

Thanks for the response.

So if you sold your private pension but then kept making contributions what would that mean?

You would be starting from scratch again.ie you would need to make very large contributions to get any sort of return from the pension.

The banking and pensions form would be your best bet for advice. http://www.boards.ie/vbulletin/forumdisplay.php?f=544