selling your pension

[trueblue924]

hi guys after some advice i have no idea about pensions so dont even know if this is possable i am 26 i was in the army for four years i have pension with them worth 1000 a year which i cn claim at 60 i think but i have started working for bt and now get what i have been told is a good pension through them a samrt pension or something i dunno what i am wondering is i wil prob lose the forms for my army pensions before i have to send them off so was wondering if i could cash that in for a lump sum now but i aint got a clue even if you can even do that
does anyone know if its possable and if so would there be any downside apart from me losing that pension money when i retire
probably a stupid question but i aint got a clue

[wakadoo]

are they not index linked so will still be worth the equivalent when you retire....

[trueblue924]

i really dont know mate

[gunner]

Nope, you can only get it added to another pension.

[RUDE BOI]

Depends on the type of pension, but many pensions you can transfer across, so whatever pension you earned in the army can be transferred into your bt pension scheme. Other pensions when you leave your job you get all the money you put in back (usually under a certain period of working somewhere eg: under 2 years). And others the money will just sit there until you reach a certain age to claim it back through eg a lump sum, most often at around 50 years old and over.

You will have to look into the type of pension scheme it is.