Pension fund
I have a pension fund sitting and not collecting interest. I am57 not ready to start getting monthly stipends. I would like to take it out and put it into an interest bearing retirement account. Is that possible without being charged interest?
Thank you
Julie
Terry Says
Wait — I am quite sure you do not understand what you have! You can’t do anything with a traditional pension fund! It is under the management of the company or employer that created it for you — and you can only take it out when you retire in the options they offer, typically a lifetime income or a lump sum, which you would roll over.
Are you taking about a 40l(k) or IRA plan? If so, where is it “sitting”? And why isn’t it earning anything?? This is a very confusing post — and it could be a very valuable asset for your eventual retirement — so please write back with details.
