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gina437
Jul 17, 2012, 12:07 PM
Does anyone know of a way to withdraw or borrow from a "pension"? Not a 401K but a pension?
I need funds badly and the pension people tell me I cannot have any of it.

Wondergirl
Jul 17, 2012, 12:12 PM
First, tell us what you need the funds for and how much. That pension will be gold to you someday.

Fr_Chuck
Jul 17, 2012, 12:17 PM
A pension does is not an account where you can draw money out. Often in some payments being made by current employees are being used toward what other retired employees are receiving. It is not like you have a savings account there.

Pension plan vs. 401(k) - by V. Kumar - Helium (http://www.helium.com/items/1049408-pension-plan-vs-401k)

ScottGem
Jul 17, 2012, 01:00 PM
This depends on the terms of the plan. Some pension plans allow you to cash out, others don't. You have to go by what the plan administrators say.

gina437
Jul 17, 2012, 01:08 PM
Property taxes- in danger of losing my home

ScottGem
Jul 17, 2012, 01:11 PM
Doesn't matter why. If the plan does not provide provision for cashing out or taking a loan, there is nothing you can do.