Submitted on Saturday 13th April 2013
Published on Monday 15th April 2013
Current status: Closed
Closed: Tuesday 15th April 2014
Signatures: 8
Allow Early Pension Surrender
A number of people have multiple "frozen" old work related private pensions that are no longer paid into.
Some people unfortunately may not reach retirement age, others may fall on hard times, or simply wish to make other investments with that money such as buying a home but the funds in these pensions cannot be released early before retirement age due to legal legislation.
We, the undersigned, ask that the government allow pension owners to have the right to be able to close pensions of their choosing whenever they like, taking the lump sum, subject to the usual capital gains tax, provided that the pension has been both declared frozen and proof of another existing (running, long held and larger) pension can be shown.
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