Can I cash in my Strathclyde pension?

Can I cash in my Strathclyde pension?

You can take tax-free cash from the LGPS. You would be giving up an index-linked pension for life. And LGPS pensions continue to spouses / qualifying partners on your death.

Can I take all my pension in a lump sum?

You could take your whole pension pot as one lump sum. But 75% of it will be taxed in the same way as other income like your salary. So by taking it all in the same tax year, you could end up with a big tax bill. Plus, you’ll need to plan how you’re going to provide an income for the rest of your life.

How can I access my pension at 55?

It’s not normally before 55. Contact your pension provider if you’re not sure when you can take your pension. You can take up to 25% of the money built up in your pension as a tax-free lump sum. You’ll then have 6 months to start taking the remaining 75%, which you’ll usually pay tax on.

How much pension will I lose if I retire early?

The pension scheme reduces the annual rate of pension by five per cent for each year if a pension is taken early.

Is the Strathclyde pension fund office open?

As a result of alternative working arrangements in light of Coronavirus, Strathclyde Pension Fund Office is closed until further notice. Our call centre is open between the hours of 08:45 and 16:45 Monday to Thursday and 08:45 to 15:55 on a Friday.

How do I Activate my Strathclyde sport membership?

How to activate your membership You can activate your Strathclyde Sport membership by visiting Strathclyde Sport reception with your student card (or see them at one of our welome events). They will: take your photo, allocate a wristband, and give you details of your PIN for online bookings.

What can I do at the University of Strathclyde?

As a member of Strathclyde Sport, you’ll have access to: £31m state-of-the-art gym the gym with over 180 pieces of state-of-the-art Life Fitness and ESP kit Spin Area 10 x weightlifting platforms more than 50 fitness classes per week, including Les Mills classes like Body Attack 25m swimming pool with sauna and steam room

Do you need a padlock for Strathclyde sport?

You will require a padlock for the lockers in Strathclyde Sport. You can bring your own padlock or purchase one from our reception for £3.00. Please note that items cannot be stored overnight.