Pension help apparently too high

[Guest]

I’m currently in arrears with my mortgage and would like to clear it in full.

I am 67, I have enough income each month.

I am earning 140.11 a month from my pension provider ( defined contributions pension )

I have previously taken some lump somes from other pensions.

I wondered if i could take a small lump sum from my pension and they’ve written back saying the two pensions I have add up to £44000 which is over the amounts for a trivial lump some or a small pot lump sum.

Thats fine, but aren’t there alternatives available for people who have saved more than the 30,000 and 10000 thresholds?


I appreciate that it might not be the best idea, but I’m struggling to pay £830 a month when we are both on pensions and I’d like the pension to clear the mortgage because we’d then have more than enough to live on

[Amethyst]

I appreciate that it might not be the best idea, but I’m struggling to pay £830 a month

How long do you have remaining on your mortgage ? and what is the current settlement amount if you did pay it off in one lump ( accounting for any early repayment penalties ) ? Is it interest only or a repayment mortgage ?

You would really be best to go and get some formal advice - speaking to Pension Wise would be a sensible first conversation to have - https://www.pensionwise.gov.uk/en/ap...ok-appointment