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-   -   Accessing pension funds (https://www.askmehelpdesk.com/showthread.php?t=683887)

  • Jul 17, 2012, 12:07 PM
    gina437
    Accessing pension funds
    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.
  • Jul 17, 2012, 12:12 PM
    Wondergirl
    First, tell us what you need the funds for and how much. That pension will be gold to you someday.
  • Jul 17, 2012, 12:17 PM
    Fr_Chuck
    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
  • Jul 17, 2012, 01:00 PM
    ScottGem
    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.
  • Jul 17, 2012, 01:08 PM
    gina437
    Property taxes- in danger of losing my home
  • Jul 17, 2012, 01:11 PM
    ScottGem
    Doesn't matter why. If the plan does not provide provision for cashing out or taking a loan, there is nothing you can do.

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